Guideline Value for Bharathiyar 3rd Cross Street

Bharathiyar 3rd Cross Street guideline value

The current guideline value of Bharathiyar 3rd 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 3rd Cross Street has changed

The guideline value for Bharathiyar 3rd Cross Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 2,400 per sq.ft, reflecting a 9% increase from the previous figure of Rs 2,200 per sq.ft established in 2023. Notably, there was no change in the guideline value from 2012 to 2023, where it remained at Rs 2,200 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2017.

Overall, comparing the figures from 2012 to 2024, there has been a 9% increase in the guideline value. The 2024 figure aligns with the median guideline value for Madambakkam, which is also Rs 2,400 per sq.ft.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, which is equal to the guideline value of Bharathiyar 3rd Cross Street. Below are the guideline values of other streets in Madambakkam:

• Bharathiyar 2nd Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 3rd Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 1st Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 1st Cross 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 3rd 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 would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000. Therefore, the total cost for these fees would be Rs 2,16,000. It's 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 detailed calculations.

Which Sub Registrar Office covers Bharathiyar 3rd Cross Street?

The Sub Registrar Office that covers Bharathiyar 3rd 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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Madambakkam, the guideline value is crucial as it determines the stamp duty and registration fees applicable during the transaction. The guideline value serves as a reference for the minimum value at which a property can be registered, ensuring transparency and fairness in the property market.

At the time of registration, the buyer must pay the stamp duty based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions while also safeguarding buyers from undervalued sales.

Frequently asked questions

What is the current guideline value of Bharathiyar 3rd Cross Street?

The current guideline value of Bharathiyar 3rd 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 changed from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024, representing a 9% increase. There was no change from 2012 to 2023, where the value remained at Rs 2,200 per sq.ft.

What is the land classification for Bharathiyar 3rd Cross Street?

Bharathiyar 3rd Cross Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for property transactions?

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.

Which Sub Registrar Office covers this area?

The Selaiyur Sub Registrar Office covers Bharathiyar 3rd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.