Guideline Value for Bharathi Street

Bharathi Street guideline value

The current guideline value of Bharathi Street in Jampuli village under the Madhavaram SRO is Rs 1,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Bharathi Street has changed

The guideline value for Bharathi Street has seen several revisions over the years. In the 2012 revision, the value was Rs 1,600 per sq.ft. This was followed by a decrease to Rs 1,072 per sq.ft in the 2017 revision. The 2023 revision saw an increase to Rs 1,600 per sq.ft, and the most recent 2024 revision has set the value at Rs 1,700 per sq.ft, marking a 6% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. It is important to note that there are no figures available for Bharathi Street in the revisions from 2002, 2003, and 2007.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,450 per sq.ft, placing Bharathi Street's 2024 figure below this median.

• Bharathiyar Salai: Rs 1,700 per sq.ft (2024)
• Bharathi Nagar: Rs 1,700 per sq.ft (2024)
• Bharathidasan Street (Near Kodungaiyur School): Rs 1,700 per sq.ft (2024)
• Bharathidasan Street: Rs 1,700 per sq.ft (2024)
• Burma Colony Road: Rs 1,700 per sq.ft (2024)
• Chinna Pappammal Street: Rs 2,200 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 is Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, resulting in a total of Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional details.

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

The guideline value plays a crucial role when buying or selling property in Jampuli. It serves as a benchmark for property transactions, ensuring that the registration process reflects the appropriate value of the property being transferred.

When registering a property, buyers must consider the guideline value, as it determines the applicable stamp duty and registration fees. This ensures compliance with local regulations and helps in the smooth processing of property transactions.

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 changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Bharathi Street?

Bharathi Street is classified as Residential Class IV Type - I, indicating its designation for residential use.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations for Bharathi Street?

The Madhavaram Sub Registrar Office handles property registrations for Bharathi Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.