Guideline Value for Bharathi Street

Bharathi Street guideline value

The current guideline value of Bharathi Street, located in Adambakkam village under the Alandur SRO, is Rs 3,900 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Bharathi Street has changed

Over the years, the guideline value of Bharathi Street has seen significant changes. In the 2002 revision, the guideline value was Rs 282 per sq.ft. This increased to Rs 322 per sq.ft in 2003, marking a 14% rise. The value then experienced a substantial jump to Rs 1,323 per sq.ft in 2007, reflecting a 311% increase. The 2012 revision saw the value at Rs 3,500 per sq.ft, which was a 165% increase from the previous revision. However, the 2017 revision recorded a decrease to Rs 2,345 per sq.ft, a drop of 33%. The guideline value then rose to Rs 3,500 per sq.ft in 2023, before reaching the current figure of Rs 3,900 per sq.ft in 2024, which is an 11% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1283%. It is important to note that there are no figures available for revisions in years not listed above.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Bharathi Street.

• Bharathi Street Nilamangai Nagar: Rs 3,900 per sq.ft (2024)
• Bharathiyar Street Vanuvam Pettai: Rs 3,900 per sq.ft (2024)
• Bharath Nagar: Rs 3,900 per sq.ft (2024)
• Bharathidasan Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Bhavani Street: Rs 3,900 per sq.ft (2024)
• Bharathidasan nagar: Rs 3,900 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration fee would be Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Street?

The Sub Registrar Office covering Bharathi Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded and compliant with local regulations.

When a property is sold, the guideline value is considered to ensure that the sale price reflects a fair value according to the local market standards. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street is Rs 3,900 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 282 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 1283% over the years.

What is the land classification of Bharathi Street?

Bharathi Street falls under the Residential Class I Type - III land classification.

What are the stamp duty and registration fees for property in Bharathi Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000, leading to a stamp duty of Rs 2,73,000 and a registration fee of Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for Bharathi Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.