Guideline Value for Bharathi Street

Bharathi Street guideline value

The current guideline value of Bharathi Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and 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. The earliest recorded figure is from the 2012 revision, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and then rose again to the current Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for Bharathi Street from the years 2002, 2003, and 2007.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Bharathi Street's current value below this median.

• Bharathiyar Street extension: Rs 2,700 per sq.ft (2024)
• Bharathiyar Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Bharma Colony: Rs 2,700 per sq.ft (2024)
• Bharathi Nagar: Rs 2,700 per sq.ft (2024)
• Bhavaniamman Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Bhavani 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 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 fees together 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.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Street?

The Madhavaram Sub Registrar Office covers Bharathi Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kodungaiyur. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring 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?

Over the years, the guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Bharathi Street?

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

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Bharathi Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.