Guideline Value for Bharathiyar First Street

Bharathiyar First Street guideline value

The current guideline value of Bharathiyar First Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village under the Alandur SRO, classified as Residential Class II Type - I.

How the guideline value of Bharathiyar First Street has changed

The guideline value for Bharathiyar First Street has undergone 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. However, in 2017, it decreased to Rs 2,010 per sq.ft. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 164%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value in this area is Rs 3,900 per sq.ft, indicating that Bharathiyar First Street's current value is below this median.

• Bharathiyar 2nd Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar 2nd Lane: Rs 3,300 per sq.ft (2024)
• Bharathiyar 1st Lane: 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 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 amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total fees 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. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Palavanthangal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 several times, starting from Rs 1,250 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a significant overall increase of 164% from 2007 to 2024.

What are the other streets in Palavanthangal with similar guideline values?

Other streets in Palavanthangal with a guideline value of Rs 3,300 per sq.ft include Bharathiyar 2nd Street, Bharathiyar 2nd Lane, Bharathiyar 1st Lane, Bharathiyar Street, and Bharathiyar Street Extension.

What fees are associated with buying property in Bharathiyar First Street?

When buying property in Bharathiyar First Street, buyers need to pay stamp duty at 7% and a registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bharathiyar First Street?

The Sub Registrar Office covering Bharathiyar First Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.