Guideline Value for Bharathiar 3rd Street

Bharathiar 3rd Street guideline value

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

How the guideline value of Bharathiar 3rd Street has changed

The guideline value for Bharathiar 3rd Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% increase. However, this value decreased to Rs 2,010 per sq.ft in 2017, reflecting a reduction of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and most recently, it has been set at Rs 3,300 per sq.ft in the 2024 revision, a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Bharathiar 3rd Street.

• Bharathiar 2nd 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 3rd Street

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

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

Which Sub Registrar Office covers Bharathiar 3rd Street?

Bharathiar 3rd Street falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount 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 3rd Street?

The current guideline value of Bharathiar 3rd 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 a 230% increase overall. The most recent changes include a rise from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024.

What is the stamp duty rate for properties in Bharathiar 3rd Street?

The stamp duty rate for properties in Bharathiar 3rd Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sembiam Sub Registrar Office?

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

What is the land classification of Bharathiar 3rd Street?

Bharathiar 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.