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 2 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 a revision in 2024, where it increased to Rs 7,700 per sq.ft from Rs 7,000 per sq.ft in 2023, marking a change of +10%. Prior to 2023, the register has no figure for this street for the years 2017, 2012, 2007, 2003, and 2002.

In the 2023 revision, the value was Rs 7,000 per sq.ft. The previous revisions from 2017, 2012, 2007, 2003, and 2002 do not have figures listed for Bharathiar Street, indicating that there were no recorded guideline values for those years.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that have a guideline value for 2024, ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value is Rs 8,800 per sq.ft, placing Bharathiar Street's 2024 figure below that 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 would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total 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?

Bharathiar Street is covered by 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 2

The guideline value is a critical component during the registration of property transactions in Mylapore Part 2. It serves as the basis for calculating stamp duty and registration fees, which are mandatory when buying or selling property.

When a property is registered, the higher value between the guideline value and the sale price is used to determine the applicable duties. This ensures that the transaction is recorded accurately and in compliance with local regulations.

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 increased 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 revisions in the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification for Bharathiar Street?

Bharathiar Street is classified as Residential Class II Type - I under the Chennai Central Joint I SRO.

What are the stamp duty and registration fees for property in Bharathiar Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 6,93,000.

Which office handles the registration for Bharathiar Street?

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