Guideline Value for Bharathiyar 1st Lane

Bharathiyar 1st Lane guideline value

The current guideline value of Bharathiyar 1st Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of Bharathiyar 1st Lane has changed

The guideline value for Bharathiyar 1st Lane has undergone several revisions over the years. In 2007, the value was Rs 1,250 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 140% rise. However, this value dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set the guideline value at Rs 3,300 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 164%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing the 2024 guideline value of Bharathiyar 1st Lane below this median.

• Bharathiyar 2nd Lane: Rs 3,300 per sq.ft (2024)
• Bharathiyar2nd Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar First Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar Street Extension: Rs 3,300 per sq.ft (2024)
• Brundavan Nagar: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiyar 1st Lane?

The Sub Registrar Office that covers Bharathiyar 1st Lane is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Palavanthangal. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

During the registration process, the guideline value is compared to the sale price of the property, and the higher of the two amounts is used for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathiyar 1st Lane?

The current guideline value of Bharathiyar 1st Lane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 164% over the years.

What is the median guideline value in Palavanthangal?

The median guideline value for streets in Palavanthangal is Rs 3,900 per sq.ft, with Bharathiyar 1st Lane's value being below this median.

What are the stamp duty and registration fees for a property in Bharathiyar 1st Lane?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.