Guideline Value for Bharathi Street

Bharathi Street guideline value

The current guideline value of Bharathi Street in Thiruneermalai village is Rs 2,420 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Bharathi Street has changed

The guideline value of Bharathi Street has seen significant changes over the years. In the 2003 revision, the value was Rs 294 per sq.ft, which increased to Rs 350 per sq.ft in 2007. Following this, the value surged to Rs 1,474 per sq.ft in 2017, marking a 321% increase from the previous revision. The 2023 revision set the value at Rs 2,200 per sq.ft, reflecting a 49% rise from 2017. The latest revision in 2024 has further increased the value to Rs 2,420 per sq.ft, a 10% increase from 2023.

It is important to note that there are no figures available for Bharathi Street in the 2002 and 2012 revisions. Overall, from 2003 to 2024, the guideline value has increased by 723%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, which is the same as the guideline value for Bharathi Street.

• Bharathidhasan Main Road: Rs 2,420 per sq.ft (2024)
• Bharathidhasan Extn: Rs 2,420 per sq.ft (2024)
• Bharathidhasan 3rd Cross Street: Rs 2,420 per sq.ft (2024)
• Bharathidhasan 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Bharathidhasan 1st Cross Street: Rs 2,420 per sq.ft (2024)
• Bharathidasan Street Extn.: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total cost for these fees to Rs 2,17,800. It is important to 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 details.

Which Sub Registrar Office covers Bharathi Street?

The Bharathi Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the registration fees and stamp duties are calculated based on this guideline value.

When a property is sold, the guideline value ensures that the transaction is recorded at a value that reflects the current market standards. This helps in maintaining transparency in property dealings and ensures that all parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 294 per sq.ft in 2003 to Rs 2,420 per sq.ft in 2024, marking a total increase of 723% over this period.

What are the stamp duty and registration fees for properties on Bharathi Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft property, the total fees would be Rs 2,17,800.

Which office handles registrations for Bharathi Street?

The Pammal Sub Registrar Office handles registrations for Bharathi Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Are there other streets in Thiruneermalai with the same guideline value?

Yes, several other streets in Thiruneermalai have the same guideline value of Rs 2,420 per sq.ft, including Bharathidhasan Main Road, Bharathidhasan Extn, and others.