Guideline Value for Bharathiar St. Main Rd ( Ward No.15 )

Bharathiar St. Main Rd ( Ward No.15 ) guideline value

The current guideline value of Bharathiar St. Main Rd ( Ward No.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. Main Rd ( Ward No.15 ) has changed

Over the years, the guideline value for Bharathiar St. Main Rd has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and finally, it reached Rs 1,600 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from the 2012 revision to the current 2024 figure shows a slight increase of 7%.

Guideline values in Madhavaram

In Madhavaram, there are a total of 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 for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value of Bharathiar St. Main Rd.

• Bharathiar St Extn. ( Ward No.28 ): Rs 1,600 per sq.ft (2024)
• Bharathiar St, Ponniammanmedu (Ward-22): Rs 1,600 per sq.ft (2024)
• Bharathiar St Extension ( Ward No.15 ): Rs 1,600 per sq.ft (2024)
• Bharathiar St. Cross Road ( 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. 2nd st ( Ward No.15 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiar St. Main Rd ( 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 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.

You can use our stamp duty and registration fee calculator for more precise calculations based on your specific property details.

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

The Sub Registrar Office that covers Bharathiar St. Main Rd ( 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 in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. Buyers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Bharathiar St. Main Rd ( 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. Main Rd ( Ward No.15 )?

Bharathiar St. Main Rd ( Ward No.15 ) is classified as 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 are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. For example, for a 1,000 sq.ft plot at Rs 1,600 per sq.ft, the total fees would amount to Rs 1,44,000.