Guideline Value for Bharathiyar 2nd St. (Ward-15)

Bharathiyar 2nd St. (Ward-15) guideline value

The current guideline value of Bharathiyar 2nd St. (Ward-15) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bharathiyar 2nd St. (Ward-15) has changed

Over the years, the guideline value of Bharathiyar 2nd St. (Ward-15) has seen several revisions. The 2012 revision set the guideline value at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision, which marked a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 brought the guideline value to Rs 1,600 per sq.ft, an increase of 7% from the previous year’s value.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%.

Guideline values in Madhavaram

In Madhavaram village, there are 1946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, which matches the current value of Bharathiyar 2nd St. (Ward-15). Below are other streets in Madhavaram with their respective guideline values:

• Bharathiyar 4th Cross Street (Ward-15): Rs 1,600 per sq.ft (2024)
• Bharathi Nagar ( Ward No.26 ): Rs 1,600 per sq.ft (2024)
• Bharathi Nagar (Ward-23): Rs 1,600 per sq.ft (2024)
• Bharathi Nagar, Ponniammanmedu (Ward-24): Rs 1,600 per sq.ft (2024)
• Bharathi Nagar, Lakshmipuram (Ward-26): Rs 1,600 per sq.ft (2024)
• Bharathi Nagar Extension: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar 2nd St. (Ward-15)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total charges to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar 2nd St. (Ward-15)?

The Sub Registrar Office that covers Bharathiyar 2nd St. (Ward-15) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It is used to determine the minimum value at which a property can be registered, ensuring that the transactions are conducted transparently and fairly.

When buying or selling property, the guideline value is referred to for calculating the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Bharathiyar 2nd St. (Ward-15)?

The current guideline value of Bharathiyar 2nd St. (Ward-15) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, with notable fluctuations in between, including a decrease to Rs 1,005 per sq.ft in 2017.

What is the land classification for Bharathiyar 2nd St.?

Bharathiyar 2nd St. is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where can I find the Sub Registrar Office for Bharathiyar 2nd St.?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and is responsible for property registrations in this area.