Guideline Value for Bharathi Street

Bharathi Street guideline value

The current guideline value of Bharathi Street in Valasaravakkam village, under the Virugambakkam SRO, is Rs 3,850 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 seen significant changes over the years. In 2002, the value was Rs 439 per sq.ft, which increased to Rs 478 per sq.ft in 2003, marking a 9% rise. The value then rose to Rs 650 per sq.ft in 2007, reflecting a 36% increase. By 2012, the guideline value remained at Rs 3,500 per sq.ft, showing no change from the previous revision. In 2023, the value was again Rs 3,500 per sq.ft, and in the latest revision for 2024, it increased to Rs 3,850 per sq.ft, which is a 10% increase from the previous year.

Notably, there is no figure available for Bharathi Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 777%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value is Rs 3,850 per sq.ft, which is equal to the guideline value of Bharathi Street.

• Bharathiyar Street: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar Annex: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar: Rs 3,300 per sq.ft (2024)
• Bhavani Nagar: Rs 4,400 per sq.ft (2024)
• Bharathidasan Street: Rs 3,300 per sq.ft (2024)
• Bhuvaneshwari Nagar: Rs 3,300 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. Please 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 details.

Which Sub Registrar Office covers Bharathi Street?

The Sub Registrar Office that covers Bharathi Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is an important factor when registering property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to assess the applicable fees, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 439 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, marking a total increase of 777% over the years.

What is the stamp duty for property on Bharathi Street?

The stamp duty for property on Bharathi Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Bharathi Street located?

The Sub Registrar Office for Bharathi Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What other streets have guideline values in Valasaravakkam?

Other streets in Valasaravakkam include Bharathiyar Street, Bharathi Nagar, and Bhavani Nagar, with values ranging from Rs 3,300 to Rs 4,400 per sq.ft for 2024.