Guideline Value for Bharathiyar Street

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Sokandi village is Rs 275 per sq.ft, effective from the 2024 revision. This street falls under the Sunguvarchattram SRO and is classified as Residential Special Type - II.

How the guideline value of Bharathiyar Street has changed

Over the years, the guideline value of Bharathiyar Street has seen several revisions. The 2012 revision set the value at Rs 275 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 revision saw a decrease to Rs 184 per sq.ft, marking a -33% change. The value then returned to Rs 275 per sq.ft in the 2023 revision, which remained the same in the 2024 revision, indicating no change from 2023 to 2024.

In summary, from the 2012 revision to the 2024 revision, the overall change is 0%. The guideline value saw a 49% increase from 2017 to 2023. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Sokandi

Sokandi village has a total of 35 streets under the Sunguvarchattram SRO, with 2024 guideline values ranging from Rs 181 to Rs 1,000 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing Bharathiyar Street's 2024 figure below that median.

• Dhanraj Nagar: Rs 500 per sq.ft (2024)
• Arul Nagar: Rs 250 per sq.ft (2024)
• Annai Nagar: Rs 250 per sq.ft (2024)
• Anandha kabalishwarar nagar extension.: Rs 800 per sq.ft (2024)
• Anandam Kabaleeswarar Co-Operative Nagar: Rs 600 per sq.ft (2024)
• Anada Kabaleeswarar Nagar Extn-I: Rs 800 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 275 per sq.ft, the total guideline value would be Rs 2,75,000. The stamp duty at 7% would amount to Rs 19,250, while the registration fee at 2% would be Rs 5,500. Together, these fees total Rs 24,750. 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, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Sokandi. It serves as a reference point for determining the stamp duty and registration fees applicable to a property transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable fees, which are mandatory for the registration of the sale deed. This ensures that the transaction is officially recognized and recorded in the public registry.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street is Rs 275 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 275 per sq.ft in 2023 and 2024, but it was Rs 184 per sq.ft in 2017. The value decreased by -33% from 2012 to 2017, and there are no figures for the years 2002, 2003, and 2007.

What is the land classification for Bharathiyar Street?

Bharathiyar Street is classified as Residential Special Type - II. This classification is important for understanding the zoning and permissible uses of the land.

What are the registration fees for properties in Bharathiyar Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value. For instance, for a 1,000 sq.ft plot, the total fees would amount to Rs 24,750.

Which office handles property registrations for Bharathiyar Street?

The Sunguvarchattram Sub Registrar Office handles property registrations for Bharathiyar Street, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.