Guideline Value for Bharathiyar First Street

Bharathiyar First Street guideline value

The current guideline value of Bharathiyar First Street in Moovarasampattu village, under the Alandur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Bharathiyar First Street has changed

The guideline value for Bharathiyar First Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 171 per sq.ft. This rose to Rs 188 per sq.ft in 2003, marking a 10% increase. The value saw a significant jump to Rs 400 per sq.ft in 2007, which is an increase of 113%. In 2012, the value remained at Rs 3,000 per sq.ft, and then it decreased to Rs 2,010 per sq.ft in 2017, representing a decline of 33%.

From 2017 to 2023, the guideline value increased sharply to Rs 3,000 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year. 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 carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Bharathiyar First Street.

• Bharathiyar 2nd Cross: Rs 3,300 per sq.ft (2024)
• Bharathiyar 1st Cross: 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)
• Brahamaputhira 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 First Street

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, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar First Street?

The Sub Registrar Office that covers Bharathiyar First Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Moovarasampattu. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Bharathiyar First Street?

The current guideline value of Bharathiyar First Street 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 significantly from Rs 171 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, with various increases and decreases over the years.

What is the land classification for Bharathiyar First Street?

Bharathiyar First Street is classified as Residential Class I Type - I, indicating its designated use for residential purposes.

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 is the stamp duty calculated for properties in Bharathiyar First Street?

Stamp duty for properties in Bharathiyar First Street is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,31,000.