Guideline Value for Bharathiyar IInd Street

Bharathiyar IInd Street guideline value

The current guideline value of Bharathiyar IInd Street is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Thirumangalam village and falls under the Sunguvarchattram SRO. The land classification is Residential Class II Type - I.

How the guideline value of Bharathiyar IInd Street has changed

Over the years, the guideline value of Bharathiyar IInd Street has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 201 per sq.ft. The 2023 revision brought the value back up to Rs 300 per sq.ft, and this figure has remained consistent into the 2024 revision, resulting in a 49% increase from 2017 to 2023. Overall, from 2012 to 2024, the value has not changed, remaining at Rs 300 per sq.ft.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. The 2024 revision marks the highest value for Bharathiyar IInd Street since the 2012 revision, which also had a guideline value of Rs 300 per sq.ft.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 605 per sq.ft, placing Bharathiyar IInd Street's 2024 figure below that median.

• Bharathiyar Ist Street: Rs 300 per sq.ft (2024)
• Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop): Rs 2,000 per sq.ft (2024)
• Bajanai Kovil Second Street: Rs 605 per sq.ft (2024)
• Bajanai Kovil First Street: Rs 605 per sq.ft (2024)
• Arunthathiyar Colony: Rs 605 per sq.ft (2024)
• Eri Street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar IInd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty is charged at 7%, which totals Rs 21,000, and the registration fee is charged at 2%, amounting to Rs 6,000. Together, the total fees would be Rs 27,000. 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 IInd Street?

The Sub Registrar Office that covers Bharathiyar IInd Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Thirumangalam. It is the minimum value set by the government for properties, ensuring that the transaction is recorded at a fair value. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. The fees are based on this value, which helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Bharathiyar IInd Street?

The current guideline value of Bharathiyar IInd Street is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft since 2023, with a significant increase of 49% from Rs 201 per sq.ft in 2017. Overall, from 2012 to 2024, the value has not changed.

What is the median guideline value in Thirumangalam?

The median guideline value for the 42 streets in Thirumangalam is Rs 605 per sq.ft, making Bharathiyar IInd Street's value below this median.

What are the stamp duty and registration fees for properties in Bharathiyar IInd Street?

For a property valued at Rs 3,00,000, the stamp duty is Rs 21,000 and the registration fee is Rs 6,000, totaling Rs 27,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Bharathiyar IInd Street located?

The Sub Registrar Office covering Bharathiyar IInd Street is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.