Guideline Value for Bharathi Street

Bharathi Street guideline value

The current guideline value of Bharathi Street in Agaramthen village is Rs 550 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 Bharathi Street has changed

Over the years, the guideline value of Bharathi Street has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following this, the value increased to Rs 500 per sq.ft in the 2023 revision, and finally, it rose to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but the overall change from 2012 to 2024 shows an increase of 10%. The jump from 2017 to 2023 was significant, with a 49% increase noted during that period.

Guideline values in Agaramthen

Agaramthen village has 125 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,700 per sq.ft. The median value across these streets is Rs 830 per sq.ft, indicating that Bharathi Street's 2024 figure is below the median.

• Bharat Nagar: Rs 550 per sq.ft (2024)
• Bharathidasan Street: Rs 550 per sq.ft (2024)
• Brahmasakthi Nagar: Rs 550 per sq.ft (2024)
• Brahmasakthi Nagar Phase - II: Rs 550 per sq.ft (2024)
• Brahma Sakthi Nagar Phase III: Rs 550 per sq.ft (2024)
• Avvaiyar Street: Rs 550 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 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Street?

The Sub Registrar Office that covers Bharathi 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 Agaramthen

When buying or selling property in Agaramthen, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Both buyers and sellers should be aware that the guideline value is used to ensure that the property is registered at a value that reflects the current market conditions as assessed by the local authorities. This value is essential for legal documentation and compliance with local regulations.

Frequently asked questions

What is the current guideline value for Bharathi Street?

The current guideline value for Bharathi Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What are the other streets in Agaramthen with the same guideline value?

Other streets in Agaramthen with the same guideline value of Rs 550 per sq.ft include Bharat Nagar, Bharathidasan Street, Brahmasakthi Nagar, Brahmasakthi Nagar Phase - II, Brahma Sakthi Nagar Phase III, and Avvaiyar Street.

What are the fees associated with buying property in Bharathi Street?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 49,500.

Where can I find the Sub Registrar Office for Bharathi Street?

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