Guideline Value for Bharathiar Street

Bharathiar Street guideline value

The current guideline value of Bharathiar Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Class II Type - I.

How the guideline value of Bharathiar Street has changed

The guideline value for Bharathiar Street has seen revisions over the years. The 2023 revision set the value at Rs 7,000 per sq.ft, while the latest 2024 revision increased it to Rs 7,700 per sq.ft, marking a change of +10%. Notably, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

In summary, the guideline value for Bharathiar Street has increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. This reflects the most recent adjustment in the guideline values for properties in the area.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Bharathiar Street's 2024 figure below this median.

• Besant Road: Rs 13,200 per sq.ft (2024)
• Beerkaran Lane 2nd Cross Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 3rd Cross Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 2nd Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 1st Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 1st Cross Street: Rs 7,700 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 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total fees together to Rs 6,93,000. 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 Street?

The Sub Registrar Office covering Bharathiar Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a critical factor when registering property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the property transfer process.

When buying or selling property, the guideline value is used to assess the official value of the property, which can influence the overall transaction costs. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Bharathiar Street?

The current guideline value of Bharathiar Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, marking a +10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the land classification of Bharathiar Street?

Bharathiar Street is classified as Residential Class II Type - I, which indicates the type of residential development permitted in this area.

What are the registration fees for property transactions?

The registration fees for property transactions are calculated based on the guideline value. For example, for a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Where is the Sub Registrar Office for Bharathiar Street located?

The Sub Registrar Office for Bharathiar Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014, under the Chennai Central Joint I SRO.