Guideline Value for Bharathiyar Road

Bharathiyar Road guideline value

The current guideline value of Bharathiyar Road, located in Madipakkam-1 village, under the Velacheri SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Bharathiyar Road has changed

The guideline value for Bharathiyar Road has seen significant changes over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 has further raised the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value in this area is Rs 2,750 per sq.ft, placing Bharathiyar Road's 2024 guideline value below this median.

• Bharathiyar Salai, Mahalakshmi Nagar: Rs 2,750 per sq.ft (2024)
• Bharathiyar Nagar/Mahalakshmi Nagar: Rs 2,750 per sq.ft (2024)
• Bharathiyar Salai, Mahalakshmi Nagar Main Road: Rs 2,750 per sq.ft (2024)
• Bharath Street/Thilagar Avenue: Rs 3,300 per sq.ft (2024)
• Bharat Street: Rs 2,200 per sq.ft (2024)
• Bhuvaneshwari Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiyar Road?

The Sub Registrar Office covering Bharathiyar Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when buying or selling property in Madipakkam-1, as it determines the minimum value at which transactions can be registered. Buyers should be aware that the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the property transaction process.

When registering a property, the buyer must ensure that the sale price is at least equal to the guideline value. This ensures compliance with local regulations and avoids potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Bharathiyar Road?

The current guideline value of Bharathiyar Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, showing an overall increase of 64%.

What is the land classification for Bharathiyar Road?

Bharathiyar Road is classified under Residential Class II Type - I, indicating its suitability for residential purposes.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Bharathiyar Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at the rate of 7%.