Guideline Value for Bharathamada Street

Bharathamada Street guideline value

The current guideline value of Bharathamada Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chinna Sembaram Bakkam village under the Sembiam SRO, classified as Residential Class III Type - I.

How the guideline value of Bharathamada Street has changed

The guideline value for Bharathamada Street has undergone several revisions over the years. In 2003, the guideline value was Rs 284 per sq.ft, which increased to Rs 500 per sq.ft in 2007. The value saw a significant rise of 100% to Rs 1,000 per sq.ft in 2012, but then decreased by 33% to Rs 670 per sq.ft in 2017. The value further increased by 49% to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft after a 10% increase in the 2024 revision.

It is important to note that the register has no figure for Bharathamada Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 287%.

Guideline values in Chinna Sembaram Bakkam

In Chinna Sembaram Bakkam, there are 37 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft, with a median value of Rs 1,400 per sq.ft. Bharathamada Street's current guideline value is below this median.

• Bhuoshanam Street: Rs 1,100 per sq.ft (2024)
• Constable Road: Rs 2,200 per sq.ft (2024)
• Constable Street: Rs 1,600 per sq.ft (2024)
• Artisan Shanmugam Road (Shanmunga Mudaliar Street): Rs 1,400 per sq.ft (2024)
• Appadurai Naiken Main Road: Rs 1,600 per sq.ft (2024)
• Appadurai Naiken 3rd Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathamada Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the 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 Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Chinna Sembaram Bakkam

When buying or selling property in Chinna Sembaram Bakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a basis for calculating these fees, ensuring that the transaction is registered at a fair value.

It is essential to be aware of the current guideline value when planning to buy or sell property, as it directly influences the overall cost of the transaction. Buyers and sellers should ensure that they are informed about the latest revisions to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Bharathamada Street?

The current guideline value of Bharathamada 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 changed from Rs 284 per sq.ft in 2003 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 287% over this period.

What is the registration office for Bharathamada Street?

The registration office for Bharathamada Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for property in Bharathamada Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 11,00,000, the stamp duty would be Rs 77,000 at a rate of 7%.

What other streets have guideline values in Chinna Sembaram Bakkam?

Other streets in Chinna Sembaram Bakkam include Bhuoshanam Street, Constable Road, Constable Street, Artisan Shanmugam Road, and Appadurai Naiken Main Road, each with varying guideline values.