Guideline Value for Bharathi Street

Bharathi Street guideline value

The current guideline value of Bharathi Street in Ullagaram village, under the Alandur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - II 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 2002, the value was Rs 249 per sq.ft, which increased to Rs 279 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,200 per sq.ft in 2007, and then to Rs 2,000 per sq.ft in 2012. However, in 2017, the value decreased to Rs 1,340 per sq.ft before rising again to Rs 2,000 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 784%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Ullagaram

In Ullagaram, there are a total of 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Bharathi Street's 2024 figure below this median.

• Bharathiyar Street: Rs 2,800 per sq.ft (2024)
• Bhavani Colony / Venkatesa Nagar: Rs 2,800 per sq.ft (2024)
• Bharathidasan Street: Rs 2,800 per sq.ft (2024)
• Bharathi Cross Street: Rs 2,800 per sq.ft (2024)
• Bhaghat Singh Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar Road: Rs 2,800 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

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. For more information, you can find your SRO.

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

The guideline value is a critical factor when registering property transactions in Ullagaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 249 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Bharathi Street?

Bharathi Street is classified as Residential Class II Type - II under the current land classification system.

Where is the Alandur Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.