Guideline Value for Bharathiar 2nd Street

Bharathiar 2nd Street guideline value

The current guideline value of Bharathiar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bharathiar 2nd Street has changed

Over the years, the guideline value of Bharathiar 2nd Street has seen several revisions. The earliest recorded value was Rs 1,000 per sq.ft in 2007. This figure increased significantly to Rs 3,000 per sq.ft by 2012, marking a 200% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value increased again to Rs 3,000 per sq.ft in 2023, followed by a further rise to the current value of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is the same as the current guideline value for Bharathiar 2nd Street.

• Bharathiar 3rd Street: Rs 3,300 per sq.ft (2024)
• Bharathiar 1st Street: Rs 3,300 per sq.ft (2024)
• Bharath Avenue: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Bharathiar 2nd Street?

The Sub Registrar Office that covers Bharathiar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, thus impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Bharathiar 2nd Street?

The current guideline value of Bharathiar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur with the same guideline value of Rs 3,300 per sq.ft include Bharathiar 1st Street, Bharathiar 3rd Street, Bharath Avenue, Bharathi Nagar 1st Street, Bharathi Nagar 2nd Street, and Bharathi Nagar 3rd Street.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Bharathiar 2nd Street?

Stamp duty for properties in Bharathiar 2nd Street is calculated based on the higher of the guideline value or the sale price. Currently, the stamp duty is 7% of the guideline value.