Guideline Value for Bharathidasan 7th Street

Bharathidasan 7th Street guideline value

The current guideline value of Bharathidasan 7th Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Bharathidasan 7th Street has changed

The guideline value for Bharathidasan 7th Street has seen several revisions over the years. The 2012 revision recorded a value of Rs 500 per sq.ft, which decreased to Rs 335 per sq.ft in the 2017 revision. Following this, the value increased to Rs 500 per sq.ft in the 2023 revision, and then rose to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 regarding this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, when considering the period from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kaspapuram

In Kaspapuram, there are 76 streets under the Tambaram Joint 1 SRO, with guideline values for 2024 ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, making the current value of Bharathidasan 7th Street below the median.

• Bharathidasan 6th Street: Rs 550 per sq.ft (2024)
• Bharathidasan 5th Street: Rs 550 per sq.ft (2024)
• Bharathidasan 4th Street: Rs 550 per sq.ft (2024)
• Bharathidasan 3rd Street: Rs 550 per sq.ft (2024)
• Bharathidasan 2nd Street: Rs 550 per sq.ft (2024)
• Bharathidasan 1st Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. 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 Bharathidasan 7th Street?

The Sub Registrar Office that covers Bharathidasan 7th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in 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 an important factor when registering property transactions in Kaspapuram. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a buyer or seller approaches the registration office, the guideline value helps establish the minimum value for the property. This ensures that the appropriate taxes are collected based on the official valuation rather than just the sale price.

Frequently asked questions

What is the current guideline value of Bharathidasan 7th Street?

The current guideline value of Bharathidasan 7th 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 increased 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 7th Street?

The land classification for Bharathidasan 7th Street is Residential Class I Type - III.

What are the stamp duty and registration fees for property in Bharathidasan 7th Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total guideline value would be Rs 5,50,000, resulting in a stamp duty of Rs 38,500 and a registration fee of Rs 11,000.

Which Sub Registrar Office covers Bharathidasan 7th Street?

The Tambaram Joint 1 Sub Registrar Office covers Bharathidasan 7th Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.