Guideline Value for Bharathiyar 1st Cross Street

Bharathiyar 1st Cross Street guideline value

The current guideline value of Bharathiyar 1st Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Commercial Class I Type - II.

How the guideline value of Bharathiyar 1st Cross Street has changed

Over the years, the guideline value of Bharathiyar 1st Cross Street has seen several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which was then reduced to Rs 1,474 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft, and the most recent 2024 revision raised it to Rs 2,400 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The change from 2023 to 2024 reflects a rise of 9%. Overall, from 2012 to 2024, the guideline value increased by 9%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, which matches the guideline value of Bharathiyar 1st Cross Street.

• Bharathiyar 1st Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 2nd Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 3rd Cross Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 3rd Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar Street: Rs 2,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, leading to a total of Rs 2,16,000. It is important 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 Bharathiyar 1st Cross Street?

The Sub Registrar Office covering Bharathiyar 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, 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 Madambakkam

The guideline value is a crucial factor during the registration process when buying or selling property in Madambakkam. It determines the minimum value for which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

Frequently asked questions

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

The current guideline value of Bharathiyar 1st Cross Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then back to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What are the other streets in Madambakkam with the same guideline value?

Other streets in Madambakkam with the same guideline value of Rs 2,400 per sq.ft include Bharathiyar 1st Street, Bharathiyar 2nd Cross Street, Bharathiyar 2nd Street, Bharathiyar 3rd Cross Street, Bharathiyar 3rd Street, and Bharathiyar Street.

What is the registration fee for property in Bharathiyar 1st Cross Street?

The registration fee for property in Bharathiyar 1st Cross Street is calculated at 2% of the guideline value. For example, on a 1,000 sq.ft plot valued at Rs 24,00,000, the registration fee would be Rs 48,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.