Guideline Value for Bharathi Street

Bharathi Street guideline value

The current guideline value of Bharathi Street in Puzhal village, under the Redhills SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

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 1,194 per sq.ft, which decreased to Rs 120 per sq.ft in 2003. Following this, the value increased significantly to Rs 300 per sq.ft in 2007, and then rose further to Rs 800 per sq.ft in 2012. However, there was a decline to Rs 536 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023, and finally reached Rs 1,100 per sq.ft in the 2024 revision.

Between the revisions, there were notable changes. From 2002 to 2003, the value decreased by 90%. The value then increased by 150% from 2003 to 2007, followed by a rise of 167% from 2007 to 2012. The value dropped by 33% from 2012 to 2017, and then saw an increase of 87% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has decreased by 8%.

Guideline values in Puzhal

In Puzhal village, there are 270 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, indicating that Bharathi Street's 2024 value is below this median.

• Bharathiyar Street: Rs 1,100 per sq.ft (2024)
• Bharathidasan Street: Rs 1,100 per sq.ft (2024)
• Bhuvaneshwari Nagar: Rs 1,100 per sq.ft (2024)
• Chandaaprabhu Vegetarian Village Part - 1: Rs 1,100 per sq.ft (2024)
• Chanthaa Prabhu Jain Vegetarian Village: Rs 1,100 per sq.ft (2024)
• Balaji Nagar Part I: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bharathi Street?

The Sub Registrar Office that covers Bharathi Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Puzhal. When buying or selling property, the guideline value determines the minimum value at which the property can be registered. This ensures that the property is valued fairly according to the local standards set by the registration department.

Additionally, the guideline value affects the stamp duty and registration fees that buyers and sellers must pay during the transaction. These fees are calculated based on the guideline value or the sale price, whichever is higher, 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 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 1,194 per sq.ft in 2002 and reaching Rs 1,100 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Bharathi Street?

The land classification for Bharathi Street is Residential Class II Type - I.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where is the Sub Registrar Office for Bharathi Street located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.