Guideline Value for Bharathi 2nd Street

Bharathi 2nd Street guideline value

The current guideline value of Bharathi 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Bharathi 2nd Street has changed

The guideline value for Bharathi 2nd Street has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 208 per sq.ft. It then increased to Rs 237 per sq.ft in 2003, followed by a significant jump to Rs 900 per sq.ft in 2007. The value remained at Rs 900 per sq.ft until it reached Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The 2023 revision saw the value rise to Rs 3,500 per sq.ft, and the most recent revision in 2024 set it at Rs 3,900 per sq.ft.

In terms of percentage changes, the guideline value increased by 11% from 2023 to 2024. From 2017 to 2023, it experienced a significant increase of 49%. The period from 2012 to 2017 saw a decrease of 33%, while the value surged by 289% from 2007 to 2012. Between 2003 and 2007, the increase was 280%, and from 2002 to 2003, it rose by 14%. Overall, from 2002 to 2024, the guideline value has increased by 1775%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, which is the same as the current value for Bharathi 2nd Street.

• Bharathi 1st Street: Rs 3,900 per sq.ft (2024)
• Bharathidasan nagar: Rs 3,900 per sq.ft (2024)
• Bharathidasan Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Bharathi Street: Rs 3,900 per sq.ft (2024)
• Bharathi Street Nilamangai Nagar: Rs 3,900 per sq.ft (2024)
• Bharathiyar Street Vanuvam Pettai: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total fees would be Rs 3,51,000. Please 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 information.

Which Sub Registrar Office covers Bharathi 2nd Street?

The Sub Registrar Office that covers Bharathi 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for additional details.

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

The guideline value is a crucial factor in property transactions in Adambakkam. It is used to determine the minimum value at which a property can be registered. When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, it is essential to ensure that the property is valued correctly according to the guideline value. This helps in avoiding any legal issues or discrepancies during the transaction, ensuring a smooth transfer of ownership.

Frequently asked questions

What is the current guideline value of Bharathi 2nd Street?

The current guideline value of Bharathi 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 208 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1775% over this period.

What are the stamp duty rates for properties in Bharathi 2nd Street?

The stamp duty for properties in Bharathi 2nd Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Bharathi 2nd Street located?

The Sub Registrar Office for Bharathi 2nd Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Adambakkam?

The median guideline value in Adambakkam is Rs 3,900 per sq.ft, which is also the guideline value for Bharathi 2nd Street as of 2024.