Guideline Value for Bharathiyar 2nd Lane

Bharathiyar 2nd Lane guideline value

The current guideline value of Bharathiyar 2nd Lane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village under the Alandur Sub Registrar Office (SRO) and falls under the Residential Class II Type - I land classification.

How the guideline value of Bharathiyar 2nd Lane has changed

The guideline value for Bharathiyar 2nd Lane has seen 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, it then decreased to Rs 2,010 per sq.ft in 2017, which was a 33% drop. The value rose again to Rs 3,000 per sq.ft in 2023, followed by the current value of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 164%. The register has no figures for the years 2002 and 2003 for this street.

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, with a median value of Rs 3,900 per sq.ft. The guideline value for Bharathiyar 2nd Lane is below this median.

• Bharathiyar2nd Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar 1st Lane: 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 2nd Lane

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, making the total cost of Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiyar 2nd Lane?

The Bharathiyar 2nd Lane is covered by 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 the registration process of property transactions in Palavanthangal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair price as per government regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties adhere to the legal requirements and that the government receives the necessary revenue from property transactions.

Frequently asked questions

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

The current guideline value of Bharathiyar 2nd 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, showing an overall increase of 164% over the years.

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

Several other streets in Palavanthangal have the same guideline value of Rs 3,300 per sq.ft in 2024, including Bharathiyar2nd Street, Bharathiyar 1st Lane, Bharathiyar First Street, Bharathiyar Street, and Bharathiyar Street Extension.

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.

How are stamp duty and registration fees calculated for properties in Bharathiyar 2nd Lane?

Stamp duty is calculated at 7% of the guideline value, while the registration fee is 2% of the guideline value. The total cost includes both fees, and they are charged on the higher of the guideline value or the sale price.