Guideline Value for Bharathi Street

Bharathi Street guideline value

The current guideline value of Bharathi Street in Konnur village, under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Bharathi Street has changed

The guideline value for Bharathi Street has undergone several revisions over the years. In 2002, the value was Rs 237 per sq.ft, which increased to Rs 257 per sq.ft in 2003, marking a change of +8%. Following this, the value saw a significant rise to Rs 500 per sq.ft in 2007, an increase of +95%. However, from 2007 to 2012, the value dropped to Rs 3,500 per sq.ft, reflecting a decrease of -33%. In 2017, the value was revised to Rs 2,345 per sq.ft, a change of -33% from the 2012 figure. The most recent revisions show a rise to Rs 3,500 per sq.ft in 2023, and then to Rs 3,800 per sq.ft in 2024, which is an increase of +9%.

Overall, from 2002 to 2024, the guideline value has increased by +1503%. There are no figures available for the years not listed in the register.

Guideline values in Konnur

In Konnur, there are 249 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 7,100 per sq.ft. The median value is Rs 3,800 per sq.ft, which is equal to the guideline value of Bharathi Street.

• Bharathi Nagar: Rs 3,800 per sq.ft (2024)
• Bazaar Street: Rs 7,100 per sq.ft (2024)
• Buvaneswari Nagar and Street: Rs 6,000 per sq.ft (2024)
• Balasubramaniam Street: Rs 5,500 per sq.ft (2024)
• Balaramapuram: Rs 2,750 per sq.ft (2024)
• Balaraman Street: Rs 2,750 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 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000. Together, the total cost for stamp duty and registration fees would be Rs 3,42,000. 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 covering Bharathi Street is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Konnur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When you register a property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are transparent and adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 237 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of +1503% over the years.

What is the stamp duty for property in Bharathi Street?

The stamp duty for property in Bharathi Street is calculated at 7% of the guideline value. For a plot valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the guideline value determined for properties in Konnur?

The guideline value for properties in Konnur is determined by the Registration Department's guideline value register, which is updated periodically to reflect changes in property values across different streets.