Guideline Value for Bharathiyar Street

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Madambakkam village is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Commercial Class I Type - II.

How the guideline value of Bharathiyar Street has changed

Looking at the revisions, the guideline value for Bharathiyar Street was Rs 2,200 per sq.ft in 2012. It then decreased to Rs 1,474 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 2,400 per sq.ft, which is a rise of 63%.

Overall, comparing the 2012 revision to the 2024 revision, there has been a slight increase of 9%. The register does not contain figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 2,400 per sq.ft, which is equal to the 2024 figure for Bharathiyar Street.

• Bharathiyar 3rd Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 3rd Cross Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 2nd Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 2nd Cross Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 1st Street: Rs 2,400 per sq.ft (2024)
• Bharathiyar 1st Cross Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Street

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, while the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. 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 further calculations.

Which Sub Registrar Office covers Bharathiyar Street?

Bharathiyar Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Madambakkam. It serves as a reference point for determining the stamp duty and registration fees that are applicable when buying or selling property.

When you register a property, the guideline value is used to ascertain the minimum value for taxation purposes. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, and then increased to Rs 2,400 per sq.ft in 2024. Overall, the change from 2012 to 2024 is an increase of 9%.

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

Other streets in Madambakkam that share the same guideline value of Rs 2,400 per sq.ft include Bharathiyar 3rd Street, Bharathiyar 3rd Cross Street, Bharathiyar 2nd Street, Bharathiyar 2nd Cross Street, Bharathiyar 1st Street, and Bharathiyar 1st Cross Street.

What is the stamp duty for property on Bharathiyar Street?

The stamp duty for property on Bharathiyar Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 24,00,000 would incur a stamp duty of Rs 1,68,000.

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

The Sub Registrar Office covering Bharathiyar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.