Guideline Value for Bharathi Salai

Bharathi Salai guideline value

The current guideline value of Bharathi Salai is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village under the Konnur SRO and is classified as Residential Class II Type - I.

How the guideline value of Bharathi Salai has changed

The guideline value for Bharathi Salai has seen several revisions over the years. In 2002, the value was Rs 566 per sq.ft, which increased to Rs 622 per sq.ft in 2003. The value then rose significantly to Rs 1,200 per sq.ft in 2007, followed by a notable increase to Rs 3,500 per sq.ft in 2012. However, there was a decrease to Rs 2,345 per sq.ft in 2017. The guideline value then increased to Rs 3,500 per sq.ft in 2023, and most recently to Rs 3,800 per sq.ft in 2024.

Between these revisions, the changes are as follows: from 2002 to 2024, the overall increase is +571%. From 2017 to 2023, the increase was +49%, while the value decreased by -33% from 2012 to 2017. The rise from 2007 to 2012 was +192%, and from 2003 to 2007, it was +93%. Lastly, the increase from 2002 to 2003 was +10%.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, making the guideline value for Bharathi Salai below this median.

• Bharathi Nagar: Rs 3,800 per sq.ft (2024)
• Bharathidhasan Nagar: Rs 3,800 per sq.ft (2024)
• Bharathiar Street: Rs 3,800 per sq.ft (2024)
• Bharathiar I Street and II Street: Rs 3,800 per sq.ft (2024)
• Burner Salai: Rs 3,800 per sq.ft (2024)
• Balu Nagar: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees together to Rs 3,42,000. Note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bharathi Salai?

The Sub Registrar Office that covers Bharathi Salai is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is documented at a fair value, which is important for both the buyer and seller. This helps in maintaining transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Bharathi Salai?

The current guideline value of Bharathi Salai is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 566 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, showing an overall increase of +571% over this period.

What is the land classification for Bharathi Salai?

Bharathi Salai is classified as Residential Class II Type - I, indicating its designation for residential use.

What are the stamp duty rates for properties in Bharathi Salai?

The stamp duty for properties in Bharathi Salai is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.