Guideline Value for Bharathiar 1st St (Ward-15)

Bharathiar 1st St (Ward-15) guideline value

The current guideline value of Bharathiar 1st St (Ward-15) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bharathiar 1st St (Ward-15) has changed

According to the register, there are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for Bharathiar 1st St (Ward-15). The guideline value was Rs 1,500 per sq.ft in the 2023 revision and has increased to Rs 1,600 per sq.ft in the 2024 revision, reflecting a change of +7%.

The 2024 revision marks the most recent update, with the previous figure from 2023 being Rs 1,500 per sq.ft. This indicates a steady increase in the guideline value over the last year.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current figure for Bharathiar 1st St (Ward-15).

• Bharathiar 3rd St (Ward-15): Rs 1,600 per sq.ft (2024)
• Bharathiar Jambuli St (Ward-18): Rs 1,600 per sq.ft (2024)
• Bharathiar St. 1st st (Ward No.15): Rs 1,600 per sq.ft (2024)
• Bharathiar St. 2nd st (Ward No.15): Rs 1,600 per sq.ft (2024)
• Bharathiar St. 3rd st (Ward No.15): Rs 1,600 per sq.ft (2024)
• Bharathiar St. Cross Road (Ward No.15): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiar 1st St (Ward-15)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiar 1st St (Ward-15)?

The Sub Registrar Office that covers Bharathiar 1st St (Ward-15) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathiar 1st St (Ward-15)?

The current guideline value of Bharathiar 1st St (Ward-15) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 1,500 per sq.ft in 2023 to Rs 1,600 per sq.ft in 2024, marking a change of +7%.

What is the land classification for Bharathiar 1st St (Ward-15)?

The land classification for Bharathiar 1st St (Ward-15) is Residential Class II Type - I.

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 stamp duty calculated in Madhavaram?

Stamp duty in Madhavaram is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.