Guideline Value for Bharathiar Street

Bharathiar Street guideline value

The current guideline value of Bharathiar Street in Gowrivakkam village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class III Type - I.

How the guideline value of Bharathiar Street has changed

The guideline value for Bharathiar Street has undergone several revisions over the years. In 2007, the guideline value was set at Rs 250 per sq.ft. It then increased significantly to Rs 700 per sq.ft in 2012, marking a rise of 180%. However, by 2017, the value decreased to Rs 469 per sq.ft, a reduction of 33%. The value saw a substantial increase to Rs 700 per sq.ft in 2023, followed by another increase to Rs 880 per sq.ft in 2024, reflecting a rise of 26%.

There are no figures available for the revisions in 2002 and 2003 for Bharathiar Street. Overall, from 2007 to 2024, the guideline value has increased by 252%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are a total of 130 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft, with a median value of Rs 2,200 per sq.ft. Bharathiar Street's current guideline value of Rs 880 per sq.ft is below this median.

• Bavanandiar 3rd Street: Rs 1,600 per sq.ft (2024)
• Bavanandiar 2nd Street: Rs 1,600 per sq.ft (2024)
• Bavanandiar 1st Street: Rs 1,600 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,400 per sq.ft (2024)
• Bajanai Koil P.T.C. Colony 4th Street: Rs 1,400 per sq.ft (2024)
• Bajanai Koil P.T.C. Colony 3rd Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiar Street?

Bharathiar Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering property transactions in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential to consider this value to avoid disputes during the registration process and ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Bharathiar Street?

The current guideline value of Bharathiar Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, reflecting an overall increase of 252% over the years.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 8,80,000, the total fees would amount to Rs 79,200.

Which Sub Registrar Office covers Bharathiar Street?

The Selaiyur Sub Registrar Office covers Bharathiar Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Bharathiar Street?

Bharathiar Street is classified as Residential Class III Type - I, indicating its suitability for residential development.