Guideline Value for Bharathidasan 1st Street

Bharathidasan 1st Street guideline value

The current guideline value of Bharathidasan 1st Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bharathidasan 1st Street has changed

The guideline value of Bharathidasan 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Bharathidasan 1st Street's 2024 figure below that median.

• Bharathidasan 1st Cross Street: Rs 1,600 per sq.ft (2024)
• Bharathiyar Street: Rs 1,600 per sq.ft (2024)
• Bhavanandhiar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 1st Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, resulting in a total of Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Bharathidasan 1st Street?

The Sub Registrar Office that covers Bharathidasan 1st Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Chembakkam. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on the property's value.

When buying or selling property, the guideline value will influence the transaction process, as the stamp duty is calculated based on this value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Bharathidasan 1st Street?

The current guideline value of Bharathidasan 1st Street 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 seen several revisions, with the latest being Rs 1,600 per sq.ft in 2024, up from Rs 1,500 per sq.ft in 2023. The value has increased overall by 7% from the 2012 revision of Rs 1,500 per sq.ft.

What is the land classification for Bharathidasan 1st Street?

Bharathidasan 1st Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, bringing the total to Rs 1,44,000.

Which office handles registrations for Bharathidasan 1st Street?

The Selaiyur Sub Registrar Office handles registrations for Bharathidasan 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.