Guideline Value for Bharathiar Street

Bharathiar Street guideline value

The current guideline value of Bharathiar Street in Mugappair village is Rs 3,800 per sq.ft, effective from 1 July 2024. This street falls under the Konnur SRO and is classified as Residential Class II 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 2002, the value was Rs 399 per sq.ft, which increased to Rs 438 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 800 per sq.ft in 2007, and then it jumped to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,800 per sq.ft.

Between these revisions, the changes were notable. From 2002 to 2003, there was a 10% increase. The value rose by 83% from 2003 to 2007, followed by a 338% increase from 2007 to 2012. The value then decreased by 33% from 2012 to 2017. After that, there was a 49% increase from 2017 to 2023, and finally, a 9% rise from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 852%.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft in 2024. The median guideline value for these streets is Rs 7,100 per sq.ft, placing Bharathiar Street's 2024 figure below this median.

• Bharathiar I Street and II Street: Rs 3,800 per sq.ft (2024)
• Bharathidhasan Nagar: Rs 3,800 per sq.ft (2024)
• Bharathi Nagar: Rs 3,800 per sq.ft (2024)
• Bharathi Salai: Rs 3,800 per sq.ft (2024)
• Balu Nagar: Rs 7,100 per sq.ft (2024)
• Burner Salai: Rs 3,800 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 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000. Together, these fees would total Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Bharathiar Street?

The Sub Registrar Office that covers Bharathiar Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Mugappair. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory payments during the registration process. This ensures that both parties are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of Bharathiar Street?

The current guideline value of Bharathiar Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 399 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, with various increases and decreases across the years.

What are the stamp duty and registration fees for properties on Bharathiar Street?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Which Sub Registrar Office covers Bharathiar Street?

The Konnur Sub Registrar Office covers Bharathiar Street, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the guideline value determined for properties in Mugappair?

The guideline value is determined by the Registration Department's guideline value register, which is revised periodically based on various factors, including previous values and market conditions.