Guideline Value for Bharathidasan Salai

Bharathidasan Salai guideline value

The current guideline value of Bharathidasan Salai is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Bharathidasan Salai has changed

Looking at the historical revisions, the guideline value for Bharathidasan Salai remained at Rs 2,000 per sq.ft from the 2012 revision until the 2023 revision. In the 2023 revision, the value increased to Rs 2,000 per sq.ft, and then it further rose by 10% to Rs 2,200 per sq.ft in the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value increased by 10%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, making the current value of Bharathidasan Salai below that median.

• Bharathidasan Street: Rs 2,200 per sq.ft (2024)
• Bharathidasan 1st Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar: Rs 2,700 per sq.ft (2024)
• Bhagavathi Street: Rs 2,200 per sq.ft (2024)
• Bhagavathi 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Bethesda Street (Nethaji Nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bharathidasan Salai?

The Bharathidasan Salai falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathidasan Salai?

The current guideline value of Bharathidasan Salai is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a 10% increase from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024. It remained unchanged at Rs 2,000 per sq.ft from 2012 to 2023.

What is the land classification for Bharathidasan Salai?

Bharathidasan Salai is classified under Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Bharathidasan Salai?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. The duty is based on the higher of the guideline value or the sale price.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in Bharathidasan Salai.