Guideline Value for Bharathiyar Street (Kennady Square)

Bharathiyar Street (Kennady Square) guideline value

The current guideline value of Bharathiyar Street (Kennady Square) is Rs 2,700 per sq.ft. This street is located in Sembiam village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bharathiyar Street (Kennady Square) has changed

The guideline value for Bharathiyar Street has undergone several revisions over the years. In 2002, the value was Rs 319 per sq.ft, which increased to Rs 346 per sq.ft in 2003, marking an 8% rise. The value saw a significant jump to Rs 700 per sq.ft in 2007, a 102% increase. By 2012, the value reached Rs 2,500 per sq.ft, reflecting a substantial 257% increase from the previous revision. However, it then decreased to Rs 1,675 per sq.ft in 2017, which was a decline of 33%. The value rose again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft from the 2024 revision, representing an 8% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 746%. There are no years in the register that lack a figure for this street.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO, with guideline values ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which is the same as the current value for Bharathiyar Street.

• Bharathiyar Street: Rs 2,700 per sq.ft (2024)
• Battachariyar Street: Rs 2,700 per sq.ft (2024)
• Cheran Street: Rs 2,700 per sq.ft (2024)
• Chidambaranar Street: Rs 2,700 per sq.ft (2024)
• Balamurugan Street: Rs 2,700 per sq.ft (2024)
• Chinna Kulanthai 1st Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Street (Kennady Square)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total fees together Rs 2,43,000. It is important to note that 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 Street (Kennady Square)?

The Sub Registrar Office that covers Bharathiyar Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value to ensure compliance with registration requirements.

When a property is sold, the transaction must be registered at the Sub Registrar Office, and the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street (Kennady Square) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 319 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 746% over the years.

What are the other streets in Sembiam with the same guideline value?

Other streets in Sembiam that have the same guideline value of Rs 2,700 per sq.ft include Battachariyar Street, Cheran Street, Chidambaranar Street, Balamurugan Street, and Chinna Kulanthai 1st Cross Street.

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

The stamp duty for a property valued at Rs 27,00,000 would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for Bharathiyar Street located?

The Sub Registrar Office for Bharathiyar Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.