Guideline Value for Bharathiyar 2nd Cross Street

Bharathiyar 2nd Cross Street guideline value

The current guideline value of Bharathiyar 2nd 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, and is classified as Commercial Class I Type - II.

How the guideline value of Bharathiyar 2nd Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 2,200 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 2,200 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,400 per sq.ft, marking a 9% rise from the previous year. The revisions for the years 2002, 2003, 2007, and 2017 do not have any figures recorded for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The consistent value of Rs 2,200 per sq.ft from 2012 to 2023 indicates stability before the recent increase.

Guideline values in Madambakkam

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

• Bharathiyar 1st Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 2nd Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 1st Cross 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 2nd 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. Together, the total cost for these fees would be Rs 2,16,000. It is important to note that 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 2nd Cross Street?

The Sub Registrar Office covering Bharathiyar 2nd 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, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during property registration in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Bharathiyar 2nd Cross Street?

The current guideline value of Bharathiyar 2nd 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 remained at Rs 2,200 per sq.ft from 2012 to 2023, before increasing to Rs 2,400 per sq.ft in 2024. Overall, there has been a 9% increase in the guideline value from 2012 to 2024.

What is the land classification of Bharathiyar 2nd Cross Street?

Bharathiyar 2nd Cross Street is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000, and the registration fee would be Rs 48,000, totaling Rs 2,16,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Bharathiyar 2nd Cross Street?

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.