Guideline Value for Bharathiar Street

Bharathiar Street guideline value

The current guideline value of Bharathiar Street in Grandlyon village is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Redhills 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 2007, the value was Rs 300 per sq.ft, which increased to Rs 600 per sq.ft in 2012, marking a 100% increase. However, from 2012 to 2017, the value decreased by 33% to Rs 402 per sq.ft. The 2023 revision saw a significant increase of 49%, bringing the value to Rs 600 per sq.ft, and the most recent revision in 2024 set the value at Rs 660 per sq.ft, a 10% increase from the previous year.

The register has no figures for Bharathiar Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO, with guideline values ranging from Rs 440 to Rs 1,500 per sq.ft. The median value is Rs 660 per sq.ft, which aligns with the current guideline value of Bharathiar Street.

• Bharathi Avenue: Rs 440 per sq.ft (2024)
• Bharathi Nagar: Rs 660 per sq.ft (2024)
• Bharathi Nagar Extetion - 1: Rs 880 per sq.ft (2024)
• Bharathinagar Extn-II: Rs 440 per sq.ft (2024)
• Buela Street: Rs 660 per sq.ft (2024)
• Chavadi Medu: Rs 440 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees together to Rs 59,400. 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?

The Sub Registrar Office that covers Bharathiar Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathiar Street?

The current guideline value of Bharathiar Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 120% over this period.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which Sub Registrar Office is responsible for Bharathiar Street?

The Redhills Sub Registrar Office is responsible for Bharathiar Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification of Bharathiar Street?

Bharathiar Street is classified as Residential Class II Type - I under the current guidelines.