Guideline Value for Bharatha Vilas Street

Bharatha Vilas Street guideline value

The current guideline value of Bharatha Vilas Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal SRO, classified as Residential Class II Type - I.

How the guideline value of Bharatha Vilas Street has changed

The guideline value for Bharatha Vilas Street has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the value further to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, and overall, from 2017 to 2024, there has been a significant increase of 64%. The register does not provide figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. Bharatha Vilas Street's 2024 guideline value is below this median.

• Bharathi Nagar: Rs 1,320 per sq.ft (2024)
• Bharathi Nagar Annai Indra Nagar: Rs 1,320 per sq.ft (2024)
• Bharathi Nagar M.G.R Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Namazhvar Street: Rs 1,320 per sq.ft (2024)
• Bharathi Street Sanmuga Nagar: Rs 1,320 per sq.ft (2024)
• Bharathithasan Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Bharatha Vilas Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Bharatha Vilas Street?

The Sub Registrar Office covering Bharatha Vilas Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pozhichalur

The guideline value plays a crucial role in property transactions in Pozhichalur, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use the guideline value to assess applicable duties and fees.

When a property is sold, the guideline value ensures that the government receives the appropriate stamp duty and registration fees based on the property's assessed value. This process helps maintain transparency and fairness in real estate transactions.

Frequently asked questions

What is the current guideline value of Bharatha Vilas Street?

The current guideline value of Bharatha Vilas Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the registration office for Bharatha Vilas Street?

The registration office for Bharatha Vilas Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What are the stamp duty and registration fees for properties in Bharatha Vilas Street?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

How does the guideline value affect property transactions?

The guideline value determines the minimum price at which properties can be registered and affects the stamp duty and registration fees payable during a transaction. It ensures that the government receives the appropriate fees based on the property's assessed value.