Guideline Value for Bharathiyar 3rd Street

Bharathiyar 3rd Street guideline value

The current guideline value of Bharathiyar 3rd Street in Madambakkam village is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Commercial Class I Type - II.

How the guideline value of Bharathiyar 3rd Street has changed

Over the years, the guideline value for Bharathiyar 3rd Street has undergone several revisions. The most recent revision in 2024 set the value at Rs 2,400 per sq.ft, which is an increase from Rs 2,200 per sq.ft in 2023. Notably, there was no change in the value from 2012 to 2023, as both years recorded the same figure of Rs 2,200 per sq.ft. The 2024 revision reflects a 9% increase from the previous year.

Looking back further, the 2012 revision also recorded Rs 2,200 per sq.ft, indicating no change from that year until 2023. The guideline value for Bharathiyar 3rd Street has not been recorded in the register for the years 2002, 2003, 2007, and 2017.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO with a 2024 guideline value range from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, which matches the guideline value of Bharathiyar 3rd Street.

• Bharathiyar 3rd Cross Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 2nd 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 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, bringing the total cost for these fees to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bharathiyar 3rd Street?

The Sub Registrar Office that covers Bharathiyar 3rd 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.

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 plays a crucial role during the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. This ensures that the registration fees and stamp duties are calculated fairly based on the established guideline value.

When buying or selling property, the guideline value must be considered as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Bharathiyar 3rd 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 increased from Rs 2,200 per sq.ft in 2023 to Rs 2,400 per sq.ft in 2024, marking a 9% increase. There was no change in value from 2012 to 2023, as both years recorded Rs 2,200 per sq.ft.

What is the land classification for Bharathiyar 3rd Street?

Bharathiyar 3rd Street is classified as Commercial Class I Type - II. This classification can affect the types of developments permitted on the property.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, for a property valued at Rs 24,00,000, the total fees would be Rs 2,16,000.