Guideline Value for Bharathidasan Street

Bharathidasan Street guideline value

The current guideline value of Bharathidasan Street in Puzhal village, under the Redhills SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Bharathidasan Street has changed

The guideline value for Bharathidasan Street has seen several revisions over the years. In 2002, the value was Rs 993 per sq.ft. This figure changed to Rs 101 per sq.ft in 2003, which marked a significant decrease of 90%. Following this, the value increased to Rs 300 per sq.ft in 2007, a rise of 197%. The 2012 revision set the value at Rs 800 per sq.ft, reflecting an increase of 167%. However, in 2017, the value dropped to Rs 536 per sq.ft, showing a decline of 33%. The 2023 revision saw the value rise to Rs 1,000 per sq.ft, an increase of 87%. Finally, the current revision in 2024 has set the value at Rs 1,100 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 indicates an increase of 11% in the guideline value.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, which means Bharathidasan Street's 2024 figure is slightly below that median.

• Bharathi Street: Rs 1,100 per sq.ft (2024)
• Bharathiyar Street: Rs 1,100 per sq.ft (2024)
• Bhuvaneshwari Nagar: Rs 1,100 per sq.ft (2024)
• Balaji Nagar Part I: Rs 1,100 per sq.ft (2024)
• Balaji Nagar Part-3: Rs 1,100 per sq.ft (2024)
• Balaji Nagar Extension-1: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathidasan Street?

The Sub Registrar Office that covers Bharathidasan Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Puzhal. It serves as the benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is assessed to calculate the applicable fees. This ensures that the transaction is recorded accurately and reflects the current market conditions as determined by the local authorities.

Frequently asked questions

What is the current guideline value of Bharathidasan Street?

The current guideline value of Bharathidasan Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 993 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, with several revisions in between, including a drop in 2017 and increases in subsequent years.

What is the land classification for Bharathidasan Street?

Bharathidasan Street is classified as Residential Class II Type - I.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Bharathidasan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a guideline value of Rs 11,00,000, leading to specific stamp duty and registration fees.