Guideline Value for Bharathiyar Street Vanuvam Pettai

Bharathiyar Street Vanuvam Pettai guideline value

The current guideline value of Bharathiyar Street Vanuvam Pettai is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Bharathiyar Street Vanuvam Pettai has changed

The guideline value for Bharathiyar Street Vanuvam Pettai has undergone several revisions over the years. In 2002, the guideline value was Rs 236 per sq.ft, which increased to Rs 269 per sq.ft in 2003. The value saw a significant rise to Rs 900 per sq.ft in 2007, followed by a further increase to Rs 3,500 per sq.ft in 2012. However, it dropped to Rs 2,345 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,500 per sq.ft in 2023 and a further rise to Rs 3,900 per sq.ft in 2024, marking an 11% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1553%. The revisions have shown significant fluctuations, particularly between 2007 and 2012, where there was a decrease of 33%. Notably, there are no figures in the register for the years not mentioned above.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO, with guideline values ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which aligns with the current value for Bharathiyar Street Vanuvam Pettai.

• Bharath Nagar: Rs 3,900 per sq.ft (2024)
• Bhavani Street: Rs 3,900 per sq.ft (2024)
• Bharathi Street Nilamangai Nagar: Rs 3,900 per sq.ft (2024)
• Bharathi Street: Rs 3,900 per sq.ft (2024)
• Bhuvaneshwari Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Bhuvaneshwari Nagar 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Street Vanuvam Pettai

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Street Vanuvam Pettai?

The Sub Registrar Office that covers Bharathiyar Street Vanuvam Pettai is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adambakkam. It serves as a reference point for determining the value of the property, ensuring that the transaction is recorded at a fair value as per government regulations.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bharathiyar Street Vanuvam Pettai?

The current guideline value of Bharathiyar Street Vanuvam Pettai is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 236 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1553% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 39,00,000. The stamp duty at 7% is Rs 2,73,000, and the registration fee at 2% is Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers Bharathiyar Street Vanuvam Pettai?

The Alandur Sub Registrar Office covers Bharathiyar Street Vanuvam Pettai, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Bharathiyar Street Vanuvam Pettai?

Bharathiyar Street Vanuvam Pettai is classified as Residential Class I Type - III according to the land classification standards.