Guideline Value for Bharathiar St (Ward-15)

Bharathiar St (Ward-15) guideline value

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

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

The guideline value for Bharathiar St (Ward-15) has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,500 per sq.ft in 2023, and finally rose to Rs 1,600 per sq.ft in the 2024 revision, reflecting a 7% increase from the previous year. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

From 2012 to 2017, there was a significant decrease of 33%. However, from 2017 to 2023, the value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which matches the current guideline value of Bharathiar St (Ward-15).

• Bharathiar St, to Pukraj Nagar Connection (Ward No.14): Rs 1,600 per sq.ft (2024)
• Bharathiar st (Ward No.22): Rs 1,600 per sq.ft (2024)
• Bharathiar st (Ward No.23): Rs 1,600 per sq.ft (2024)
• Bharathiar St (Ward No.28): Rs 1,600 per sq.ft (2024)
• Bharathiar St, Ponniammanmedu (Ward-22): Rs 1,600 per sq.ft (2024)
• Bharathiar St. Main Rd (Ward No.15): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiar 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, bringing the total cost for these fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Bharathiar St (Ward-15) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded accurately in the official register.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer. Buyers and sellers must be aware of these values to ensure compliance with local regulations.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

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

Several other streets in Madhavaram have the same guideline value of Rs 1,600 per sq.ft for 2024, including Bharathiar St, to Pukraj Nagar Connection (Ward No.14) and Bharathiar St (Ward No.22).

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.

How is the stamp duty calculated for properties in Bharathiar St (Ward-15)?

Stamp duty for properties in Bharathiar St (Ward-15) is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is charged based on the same criteria.