Guideline Value for Bharathidasan 1st Street

Bharathidasan 1st Street guideline value

The current guideline value of Bharathidasan 1st Street in Kaspapuram village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - III.

How the guideline value of Bharathidasan 1st Street has changed

Over the years, the guideline value for Bharathidasan 1st Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017. In 2023, the value increased to Rs 500 per sq.ft, and the latest revision in 2024 raised it further to Rs 550 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a significant decrease of 33%. However, from 2017 to 2023, the guideline value jumped by 49%. Overall, comparing the figures from 2012 to 2024, there has been a modest increase of 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value in the village is Rs 1,100 per sq.ft, indicating that Bharathidasan 1st Street's current figure is below this median.

• Bharathidasan 2nd Street: Rs 550 per sq.ft (2024)
• Bharathidasan 3rd Street: Rs 550 per sq.ft (2024)
• Bharathidasan 4th Street: Rs 550 per sq.ft (2024)
• Bharathidasan 5th Street: Rs 550 per sq.ft (2024)
• Bharathidasan 6th Street: Rs 550 per sq.ft (2024)
• Bharathidasan 7th Street: Rs 550 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathidasan 1st Street?

The Bharathidasan 1st Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kaspapuram, as it determines the minimum value at which a property can be registered. This value helps in calculating the stamp duty and registration fees that are applicable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

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

The current guideline value of Bharathidasan 1st Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Bharathidasan 1st Street?

Bharathidasan 1st Street is classified as Residential Class I Type - III.

How does the guideline value compare to other streets in Kaspapuram?

The guideline value of Bharathidasan 1st Street is Rs 550 per sq.ft, which is below the median value of Rs 1,100 per sq.ft for the 76 streets in Kaspapuram under the Tambaram Joint 1 SRO.

What are the fees associated with property registration in Bharathidasan 1st Street?

The fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value. For a 1,000 sq.ft plot, the total fees would amount to Rs 49,500.