Guideline Value for Bharathiyar Street extension

Bharathiyar Street extension guideline value

The current guideline value of Bharathiyar Street extension is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Bharathiyar Street extension has changed

The guideline value for Bharathiyar Street extension has undergone several revisions. In 2012, the value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. This marked a significant decline of 33%. However, from 2017 to 2024, the value increased by 61%, reaching the current figure of Rs 2,700 per sq.ft.

Overall, comparing the figures from 2012 to 2024 shows a slight increase of 8%. It is important to note that there are no available figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the current guideline value for Bharathiyar Street extension.

• Bharathiyar Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Bharma Colony: Rs 2,700 per sq.ft (2024)
• Bhavaniamman Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Bhavani Street: Rs 2,200 per sq.ft (2024)
• Bharathi Street: Rs 2,200 per sq.ft (2024)
• Binni Main Road: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Street extension

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value totals Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost would be Rs 2,43,000. It is important to note that the 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 Street extension?

The Sub Registrar Office that covers Bharathiyar Street extension is 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 Kodungaiyur

The guideline value is an essential factor in property transactions in Kodungaiyur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these fees.

When registering a property, the guideline value helps establish a baseline for the transaction. It is crucial for both parties to understand that the registration office will use the higher of the guideline value or the sale price to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Bharathiyar Street extension?

The current guideline value of Bharathiyar Street extension 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 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. This reflects a decline from 2012 to 2017, followed by a significant increase up to 2024.

What is the land classification for Bharathiyar Street extension?

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

Where can I find the Sub Registrar Office for Bharathiyar Street extension?

The Madhavaram Sub Registrar Office covers Bharathiyar Street extension and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Bharathiyar Street extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.