Guideline Value for Bharathamada Street

Bharathamada Street guideline value

The current guideline value of Bharathamada Street is Rs 4,750 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village and falls under the Selaiyur SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Bharathamada Street has changed

The guideline value for Bharathamada Street has seen several revisions over the years. In 2007, the guideline value was Rs 850 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 429%. However, from 2012 to 2017, there was a decrease, with the value dropping to Rs 3,015 per sq.ft, which is a decline of 33%. The value then increased to Rs 4,500 per sq.ft in 2023, reflecting a rise of 49% from the previous figure.

The most recent revision in 2024 has set the guideline value at Rs 4,750 per sq.ft, which is a 6% increase from the 2023 figure. Overall, from 2007 to 2024, the guideline value has increased by 459%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Bharathamada Street's 2024 figure above the median.

• Bhagavathy Nagar: Rs 1,600 per sq.ft (2024)
• Bhagavath Singh Street: Rs 850 per sq.ft (2024)
• Bethelpuram 1st Street: Rs 950 per sq.ft (2024)
• Bethelpuram 1st Cross Street: Rs 950 per sq.ft (2024)
• Bethelpuram: Rs 950 per sq.ft (2024)
• Bharathi Nagar Bajanai Koil Street: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathamada Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,750 per sq.ft, the total guideline value would be Rs 47,50,000. The stamp duty at 7% would amount to Rs 3,32,500, and the registration fee at 2% would be Rs 95,000, making the total charges Rs 4,27,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathamada Street?

The Sub Registrar Office that covers Bharathamada Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it directly affects the costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Bharathamada Street?

The current guideline value of Bharathamada Street is Rs 4,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2007 to Rs 4,750 per sq.ft in 2024, showing an overall increase of 459% over the years.

What is the land classification for Bharathamada Street?

The land classification for Bharathamada Street is Commercial Special Type - I, which indicates the nature of the properties in this area.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 47,50,000, the stamp duty would be Rs 3,32,500 and the registration fee would be Rs 95,000, totaling Rs 4,27,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bharathamada Street?

The Selaiyur Sub Registrar Office covers Bharathamada Street, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.