Guideline Value for Bharathiyar Street

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Molachoor village, under the Sunguvarchattram SRO, is Rs 600 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - III.

How the guideline value of Bharathiyar Street has changed

The guideline value of Bharathiyar Street has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the guideline value was reduced to Rs 402 per sq.ft, marking a decrease of 33%. The subsequent revision in 2023 brought the value back to Rs 600 per sq.ft, and this figure has remained the same through to the 2024 revision, which also lists it at Rs 600 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, the value increased by 49%. Overall, comparing the 2012 to the 2024 revisions, the guideline value has not changed, remaining at Rs 600 per sq.ft.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, which aligns with the 2024 guideline value for Bharathiyar Street.

• Bharathidhasan Street: Rs 600 per sq.ft (2024)
• Bhanu Nagar: Rs 460 per sq.ft (2024)
• Benjamin Naidu Street: Rs 800 per sq.ft (2024)
• B.B Innaiyya Naidu Street: Rs 500 per sq.ft (2024)
• Banu Nagar Phase-II: Rs 460 per sq.ft (2024)
• Balas Garden: Rs 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 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, while the registration fee at 2% would be Rs 12,000, leading to a total of Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Molachoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications involved in the transaction. This helps maintain transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 600 per sq.ft in both 2023 and 2024, and a decrease to Rs 402 per sq.ft in 2017. The value was Rs 600 per sq.ft in 2012.

What is the land classification for Bharathiyar Street?

The land classification for Bharathiyar Street is Residential Special Type - III, indicating its designated use for residential purposes.

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

The Sub Registrar Office for Bharathiyar Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 42,000 based on the guideline value of Rs 6,00,000.