Guideline Value for Bharathi Nagar Palayathan Street

Bharathi Nagar Palayathan Street guideline value

The current guideline value of Bharathi Nagar Palayathan Street is Rs 1,800 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class II Type - I.

How the guideline value of Bharathi Nagar Palayathan Street has changed

The guideline value for Bharathi Nagar Palayathan Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,700 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,139 per sq.ft, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 1,700 per sq.ft, and the latest revision in 2024 has further raised it to Rs 1,800 per sq.ft, reflecting a 6% increase from the previous year.

From 2017 to 2023, the value rose significantly by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, indicating that Bharathi Nagar Palayathan Street's 2024 figure is below this median.

• Bharathi Nagar Pallikuda Street: Rs 1,800 per sq.ft (2024)
• Bharathi Nagar Mada Koil Street: Rs 1,800 per sq.ft (2024)
• Bharathi Nagar Extension: Rs 1,400 per sq.ft (2024)
• Bharathi Nagar Bajanai Koil Street: Rs 1,800 per sq.ft (2024)
• Bharathiyar Street: Rs 850 per sq.ft (2024)
• Bharath Nagar: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Palayathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, totaling Rs 1,62,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar Palayathan Street?

The Sub Registrar Office that covers Bharathi Nagar Palayathan 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, within 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 when registering property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Bharathi Nagar Palayathan Street?

The current guideline value for Bharathi Nagar Palayathan Street is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,700 per sq.ft in 2023 to Rs 1,800 per sq.ft in 2024, marking a 6% increase. It was Rs 1,139 per sq.ft in 2017 and Rs 1,700 per sq.ft in 2012.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% applies.

Which office handles the registration of properties in Selaiyur?

The Selaiyur Sub Registrar Office handles the registration of properties in Selaiyur. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

Are there other streets with similar guideline values in Selaiyur?

Yes, there are several other streets in Selaiyur with similar guideline values. For example, Bharathi Nagar Pallikuda Street and Bharathi Nagar Mada Koil Street also have a guideline value of Rs 1,800 per sq.ft in 2024.