Guideline Value for Bharathan Street

Bharathan Street guideline value

The current guideline value of Bharathan Street in Chitlapakkam village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Bharathan Street has changed

The guideline value for Bharathan Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,500 per sq.ft. In 2017, this figure decreased by 33% to Rs 1,005 per sq.ft. The following revision in 2023 saw a significant increase of 49%, bringing the value back up to Rs 1,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no recorded figures for Bharathan Street in the revisions for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, with rates ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Bharathan Street.

• Bharath Avenue Extension: Rs 2,750 per sq.ft (2024)
• Beeshmar Street: Rs 1,650 per sq.ft (2024)
• Barath Avenue I: Rs 2,750 per sq.ft (2024)
• Barath Avenue: Rs 2,750 per sq.ft (2024)
• Banu Avenue: Rs 1,650 per sq.ft (2024)
• Bharathiyar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the stamp 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 detailed calculations.

Which Sub Registrar Office covers Bharathan Street?

The Sub Registrar Office that covers Bharathan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value plays a crucial role in property transactions in Chitlapakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid during the registration process. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it can influence the overall costs associated with property transactions. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Bharathan Street?

The current guideline value of Bharathan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Bharathan Street?

Bharathan Street is classified as Residential Class I Type - III.

Where is the Sub Registrar Office for Bharathan Street located?

The Sub Registrar Office for Bharathan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Bharathan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,15,500.