Guideline Value for Bharathidasan Nagar 1st Cross Street

Bharathidasan Nagar 1st Cross Street guideline value

The current guideline value of Bharathidasan Nagar 1st Cross Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bharathidasan Nagar 1st Cross Street has changed

The guideline value for Bharathidasan Nagar 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. The subsequent 2023 revision increased the value to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% rise from the previous year. Notably, the revisions for the years 2002, 2003, and 2007 have no figures available for this street.

From 2012 to 2024, the overall change in the guideline value is an increase of 7%. The most significant change occurred between the 2017 and 2023 revisions, where the value rose by 49%. In contrast, the 2012 to 2017 period saw a decrease of 33% in the guideline value.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that have a guideline value for 2024, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 2,150 per sq.ft, indicating that the guideline value of Bharathidasan Nagar 1st Cross Street is below this median.

• Bharathidasan Nagar 2nd Cross Street: Rs 1,600 per sq.ft (2024)
• Bharathidasan Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Bharathidasan Nagar 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Bharathidasan Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Bharathidasan Street: Rs 1,600 per sq.ft (2024)
• Bharathidasan 1st Street: Rs 1,600 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would amount 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, making the total charges Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathidasan Nagar 1st Cross Street?

The Sub Registrar Office that covers Bharathidasan Nagar 1st Cross 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, 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 Rajakilpakkam

The guideline value plays a crucial role in property transactions in Rajakilpakkam. It is used to determine the stamp duty and registration fees that are payable when buying or selling a property. Buyers must be aware that the guideline value is often considered the minimum value for property transactions, ensuring that the government receives appropriate revenue from property sales.

When a property is registered, the guideline value is checked against the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees. This means that buyers should be prepared for potential additional costs if the sale price exceeds the guideline value.

Frequently asked questions

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

The current guideline value of Bharathidasan Nagar 1st Cross 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, with significant fluctuations in between, including a drop to Rs 1,005 per sq.ft in 2017.

What is the median guideline value in Rajakilpakkam?

The median guideline value in Rajakilpakkam is Rs 2,150 per sq.ft, which is higher than the current guideline value of Bharathidasan Nagar 1st Cross Street.

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, totaling Rs 1,44,000.

Where can I find the Sub Registrar Office for Bharathidasan Nagar 1st Cross Street?

The Sub Registrar Office for Bharathidasan Nagar 1st Cross Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.