Guideline Value for Bharathi Street

Bharathi Street guideline value

The current guideline value of Bharathi Street in Menambedu village, under the Ambattur SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Bharathi Street has changed

The guideline value for Bharathi Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, which is an increase from the 2023 revision of Rs 1,600 per sq.ft, reflecting a change of +6%. Looking back further, the 2017 revision recorded a value of Rs 1,072 per sq.ft, marking a significant increase of +49% from that year to 2023. The 2012 revision had set the value at Rs 1,600 per sq.ft, which was a decrease of -33% from the previous figure in 2017. Overall, from 2012 to 2024, the guideline value has increased by +6%.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Bharathi Street. The historical figures highlight the fluctuations in the guideline value over the years.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value in this area is Rs 1,003 per sq.ft, placing Bharathi Street's 2024 figure above that median.

• Bharathiyar Street(Arumuga Nagar): Rs 1,700 per sq.ft (2024)
• Bharath Nagar: Rs 1,001 per sq.ft (2024)
• Bharath Nagar Ext.: Rs 1,001 per sq.ft (2024)
• Banu Street: Rs 1,700 per sq.ft (2024)
• Chandiran Mesthiri Street: Rs 1,000 per sq.ft (2024)
• Bala Vinayagar Koil Street: Rs 1,700 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 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty, charged at 7%, would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or 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 that covers Bharathi Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Menambedu. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are fairly assessed and documented.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase of +6% from Rs 1,600 per sq.ft in 2023 to Rs 1,700 per sq.ft in 2024. From 2017 to 2023, there was a significant increase of +49% from Rs 1,072 per sq.ft.

What is the land classification for Bharathi Street?

Bharathi Street is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 1,53,000 in fees.

Where is the Sub Registrar Office for Bharathi Street located?

The Sub Registrar Office for Bharathi Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.