Guideline Value for Bharathiyar Salai

Bharathiyar Salai guideline value

The current guideline value of Bharathiyar Salai is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Jampuli village under the Madhavaram SRO, classified as Residential Class IV Type - I.

How the guideline value of Bharathiyar Salai has changed

Since the 2012 revision, the guideline value for Bharathiyar Salai has seen several changes. In 2012, the guideline value was Rs 1,600 per sq.ft, which decreased to Rs 1,072 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 1,600 per sq.ft, and in the latest revision for 2024, it rose to Rs 1,700 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

To summarize the changes, the guideline value increased by 49% from 2017 to 2023 and by 6% from 2023 to 2024. Overall, from 2012 to 2024, the value has increased by 6%.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value of Bharathiyar Salai is below this median.

• Bharathi Street: Rs 1,700 per sq.ft (2024)
• Bharathi Nagar: Rs 1,700 per sq.ft (2024)
• Bharathidasan Street (Near Kodungaiyur School): Rs 1,700 per sq.ft (2024)
• Bharathidasan Street: Rs 1,700 per sq.ft (2024)
• Burma Colony Road: Rs 1,700 per sq.ft (2024)
• Chinna Pappammal Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, resulting in a total cost of Rs 1,53,000. 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 Salai?

The Bharathiyar Salai is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Jampuli. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller engages in a transaction, the guideline value is used to calculate the applicable duties, ensuring that the registration process adheres to the legal requirements set by the state. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Bharathiyar Salai?

The current guideline value of Bharathiyar Salai is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Bharathiyar Salai?

Bharathiyar Salai is classified as Residential Class IV Type - I, which is a designation used for residential properties in the area.

What are the stamp duty rates for properties in Bharathiyar Salai?

The stamp duty for properties in Bharathiyar Salai is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value or sale price.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.