Guideline Value for Bharathiyar Street

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Rajakilpakkam village, under the Selaiyur SRO, is Rs 880 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class IV Type - II land classification.

How the guideline value of Bharathiyar Street has changed

The guideline value of Bharathiyar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was later reduced to Rs 402 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 600 per sq.ft, and the most recent revision in 2024 has raised it to Rs 880 per sq.ft, marking a significant increase of 47% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been an increase of 47%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. Bharathiyar Street's 2024 figure of Rs 880 per sq.ft is below this median.

• Bharath Vigar Avenue: Rs 1,900 per sq.ft (2024)
• Bharathidasan Street: Rs 1,600 per sq.ft (2024)
• Bharathidasan Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Bharathidasan Nagar 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Bharathidasan Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Bharathidasan Nagar 2nd Cross Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost together to Rs 79,200. Duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Street?

The Sub Registrar Office that covers 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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process when buying or selling property. It determines the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately and fairly.

When a property is sold, the stamp duty and registration fees are 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 is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Bharathiyar Street?

Bharathiyar Street falls under the Residential Class IV Type - II land classification.

What are the stamp duty and registration fees for properties on Bharathiyar Street?

For a property valued at Rs 8,80,000, the stamp duty is Rs 61,600 and the registration fee is Rs 17,600, totaling Rs 79,200.

Which office handles registrations for Bharathiyar Street?

The Selaiyur Sub Registrar Office handles registrations for Bharathiyar Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.