Guideline Value for Bharathiar St Extension ( Ward No.15 )

Bharathiar St Extension ( Ward No.15 ) guideline value

The current guideline value for Bharathiar St Extension ( Ward No.15 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area 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 Extension ( Ward No.15 ) has changed

The guideline value for Bharathiar St Extension ( Ward No.15 ) has undergone several revisions over the years. In 2012, the guideline value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. The value then rose significantly to Rs 1,500 per sq.ft in 2023, and further increased by 7% to reach the current value of Rs 1,600 per sq.ft in 2024.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 7%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values 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 aligns with the current guideline value of Bharathiar St Extension ( Ward No.15 ).

• Bharathiar St. Cross Road ( Ward No.15 ): Rs 1,600 per sq.ft (2024)
• Bharathiar St Extn. ( Ward No.28 ): Rs 1,600 per sq.ft (2024)
• Bharathiar St. 3rd st ( Ward No.15 ): Rs 1,600 per sq.ft (2024)
• Bharathiar St. Main Rd ( 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, Ponniammanmedu (Ward-22): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiar St Extension ( Ward No.15 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total fees would be 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiar St Extension ( Ward No.15 )?

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

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

The guideline value is a crucial factor when registering property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be sold or purchased, ensuring transparency in the transaction process.

When a property is sold, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that the fees are based on a standardized value, which helps in maintaining consistency across property transactions in the area.

Frequently asked questions

What is the current guideline value of Bharathiar St Extension ( Ward No.15 )?

The current guideline value of Bharathiar St Extension ( Ward No.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 is the land classification for Bharathiar St Extension ( Ward No.15 )?

Bharathiar St Extension ( Ward No.15 ) is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where is the Sub Registrar Office for this area located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.