Guideline Value for Bharathiyar 2nd Cross

Bharathiyar 2nd Cross guideline value

The current guideline value of Bharathiyar 2nd Cross in Moovarasampattu village, under the Alandur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bharathiyar 2nd Cross has changed

The guideline value for Bharathiyar 2nd Cross has seen significant revisions over the years. In 2002, the guideline value was Rs 171 per sq.ft, which increased to Rs 188 per sq.ft in 2003. The next revision in 2007 saw a substantial rise to Rs 400 per sq.ft, followed by a dramatic increase to Rs 3,000 per sq.ft in 2012. However, the value decreased to Rs 2,010 per sq.ft in 2017. The guideline value then rose to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 10%. The most notable change occurred between 2007 and 2012, with an increase of 650%. Overall, from 2002 to 2024, the guideline value has increased by 1,830%.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft, with the median being Rs 3,300 per sq.ft. The guideline value for Bharathiyar 2nd Cross is equal to this median.

• Bharathiyar 1st Cross: 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)
• Bhavani Street(Ganga Nagar): Rs 3,300 per sq.ft (2024)
• Brahmaputhira Street: Rs 3,300 per sq.ft (2024)
• Balaya Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar 2nd Cross

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, the total cost would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bharathiyar 2nd Cross?

The Bharathiyar 2nd Cross falls under the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Moovarasampattu. It serves as the basis for calculating the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers should be aware of the current guideline value to ensure they are compliant with legal requirements.

When a property is registered, the guideline value is used to determine the minimum price at which the property can be sold. This ensures that the transaction is transparent and that the government receives the appropriate taxes based on the property’s value.

Frequently asked questions

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

The current guideline value of Bharathiyar 2nd Cross is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various changes, with the most significant increase occurring from Rs 400 per sq.ft in 2007 to Rs 3,000 per sq.ft in 2012. The latest revision in 2024 set the value at Rs 3,300 per sq.ft.

What is the land classification for Bharathiyar 2nd Cross?

The land classification for Bharathiyar 2nd Cross is Residential Class I Type - I, indicating its designation for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Bharathiyar 2nd Cross is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

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. It serves the registration needs for properties in Bharathiyar 2nd Cross.