Guideline Value for Bharathi Street

Bharathi Street guideline value

The current guideline value of Bharathi Street in Tharamani village, under the Adayar SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Bharathi Street has changed

The guideline value for Bharathi Street has seen several revisions over the years. In 2002, the value was Rs 159 per sq.ft, which increased to Rs 300 per sq.ft in 2003, marking an increase of 89%. The value then rose significantly to Rs 1,000 per sq.ft in 2007, a change of 233%. Following this, in 2012, it decreased to Rs 2,500 per sq.ft, reflecting a decline of 33%. The value increased again to Rs 1,675 per sq.ft in 2017, a rise of 49%. The 2023 revision set the value at Rs 2,500 per sq.ft, which then increased to the current Rs 2,800 per sq.ft in 2024, a change of 12%.

Overall, from 2002 to 2024, the guideline value has increased by 1661%. There are no figures available for any other revisions for Bharathi Street in the register.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median value is Rs 2,800 per sq.ft, which is equal to the current guideline value of Bharathi Street.

• Bharathi Nagar Yamuna Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Thapathi Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Thamirabarani Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar Saraswathi Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Ponni Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Kaveri Street: Rs 2,200 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making the total fees Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Street?

The Sub Registrar Office that covers Bharathi Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Tharamani. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher amount will be used for calculating the fees.

When registering a property, it is essential to refer to the guideline value to ensure compliance with legal requirements. This value is established by the Registration Department and is regularly updated to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 159 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 1661%.

What are the other streets in Tharamani with their guideline values?

Other streets in Tharamani include Bharathi Nagar Yamuna Street, Bharathi Nagar Thapathi Street, Bharathi Nagar Thamirabarani Street, Bharathi Nagar Saraswathi Street, Bharathi Nagar Ponni Street, and Bharathi Nagar Kaveri Street, with values ranging from Rs 2,200 to Rs 2,800 per sq.ft in 2024.

What fees are associated with buying property in Bharathi Street?

When buying property in Bharathi Street, the total fees include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Bharathi Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.