Guideline Value for Bharathiyar Ist Street

Bharathiyar Ist Street guideline value

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

How the guideline value of Bharathiyar Ist Street has changed

Over the years, the guideline value for Bharathiyar Ist Street has seen several revisions. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was Rs 201 per sq.ft, reflecting a decrease of 33% from the previous figure. The 2023 revision also maintained the value at Rs 300 per sq.ft, and the 2024 revision again confirmed this rate, indicating no change from the previous year.

From 2017 to 2023, there was an increase of 49%, but overall from 2012 to 2024, the guideline value has remained unchanged at Rs 300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumangalam

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

• Bharathiyar IInd 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 Ist 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 at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiyar Ist Street?

The Bharathiyar Ist Street is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumangalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on whichever amount is higher. This ensures that the registration fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Bharathiyar Ist Street?

The current guideline value of Bharathiyar Ist 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 2012, with a notable increase of 49% from Rs 201 per sq.ft in 2017 to 2023, but no change from 2023 to 2024.

What is the land classification for Bharathiyar Ist Street?

Bharathiyar Ist Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty rates for properties in Bharathiyar Ist Street?

The stamp duty for properties in Bharathiyar Ist Street is charged at 7% of the guideline value or sale price, whichever is higher.

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

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