Guideline Value for Bharathiar st ( Ward No.23 )

Bharathiar st ( Ward No.23 ) guideline value

The current guideline value of Bharathiar st ( Ward No.23 ) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bharathiar st ( Ward No.23 ) has changed

In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the upcoming 2024 revision, the guideline value has increased significantly to Rs 1,600 per sq.ft, representing a rise of 59%.

Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 7% in the guideline value. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current figure for Bharathiar st ( Ward No.23 ).

• Bharathiar st ( Ward No.22 ): Rs 1,600 per sq.ft (2024)
• Bharathiar St ( Ward No.28 ): Rs 1,600 per sq.ft (2024)
• Bharathiar St (Ward-15): Rs 1,600 per sq.ft (2024)
• Bharathiar St, to Pukraj Nagar Connection ( Ward No.14 ): Rs 1,600 per sq.ft (2024)
• Bharathiar St, Ponniammanmedu (Ward-22): Rs 1,600 per sq.ft (2024)
• Bharathiar St. Main Rd ( Ward No.15 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiar st ( Ward No.23 )

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total cost for these fees would be Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiar st ( Ward No.23 )?

The Sub Registrar Office that covers Bharathiar st ( Ward No.23 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It serves as a reference for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the duty is charged on the higher of the two amounts. This ensures that the government receives the appropriate fees based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value of Bharathiar st ( Ward No.23 )?

The current guideline value of Bharathiar st ( Ward No.23 ) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024. Overall, there has been a 7% increase from 2012 to 2024.

What are the other streets with the same guideline value in Madhavaram?

Other streets in Madhavaram that share the same guideline value of Rs 1,600 per sq.ft in 2024 include Bharathiar st ( Ward No.22 ), Bharathiar St ( Ward No.28 ), Bharathiar St (Ward-15), and others.

What is the registration fee for property in Bharathiar st ( Ward No.23 )?

The registration fee for property in Bharathiar st ( Ward No.23 ) is calculated based on the guideline value. For a property valued at Rs 16,00,000, the registration fee would be Rs 32,000 at 2%.

Where is the Sub Registrar Office for Bharathiar st ( Ward No.23 ) located?

The Sub Registrar Office for Bharathiar st ( Ward No.23 ) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.