Guideline Value for Bharathi Street

Bharathi Street guideline value

The current guideline value of Bharathi Street, located in Venkatapuram village under the Adayar SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class V Type - III land classification.

How the guideline value of Bharathi Street has changed

The guideline value for Bharathi Street has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft. This increased to Rs 2,500 per sq.ft in 2012, marking a 67% rise. However, between 2012 and 2017, the value decreased by 33% to Rs 1,675 per sq.ft. The following revision in 2023 saw a significant increase of 49%, bringing the value to Rs 2,500 per sq.ft. The most recent revision in 2024 has set the value at Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

The register has no figures for Bharathi Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 87%.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 15,400 per sq.ft, with a median value of Rs 5,500 per sq.ft. Bharathi Street's current value is below this median.

• Bishop Colony: Rs 8,300 per sq.ft (2024)
• Central Avenue: Rs 5,500 per sq.ft (2024)
• Central Avenue Road: Rs 5,500 per sq.ft (2024)
• Chinnamalai: Rs 8,300 per sq.ft (2024)
• Church Colony: Rs 4,400 per sq.ft (2024)
• Arokkiyamada Nagar: Rs 5,500 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 would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total charges to 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 more information, 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 further assistance.

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

The guideline value is a crucial factor when buying or selling property in Venkatapuram. It serves as a benchmark for the registration of property transactions, ensuring that the transaction is recorded at a value that reflects the prevailing market conditions as determined by the government.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

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 much has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 87% over the years.

What is the land classification of Bharathi Street?

Bharathi Street is classified under Residential Class V Type - III, indicating its use for residential purposes.

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.

How is the stamp duty calculated for properties in Bharathi Street?

Stamp duty for properties in Bharathi Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.