Guideline Value for Bharathiyar Street

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Peerklankaranai village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - I.

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 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest 2024 revision has raised it to Rs 1,100 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. Bharathiyar Street's current guideline value of Rs 1,100 per sq.ft is below this median.

• Bharathi Street ward 8th: Rs 1,980 per sq.ft (2024)
• Bharathi St Near G.S.T Road: Rs 1,980 per sq.ft (2024)
• Bharathi St: Rs 2,200 per sq.ft (2024)
• Bharathidasan St: Rs 1,650 per sq.ft (2024)
• Bharathi Cross Street: Rs 1,320 per sq.ft (2024)
• Bavani Street: Rs 1,100 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, resulting in a total cost of Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiyar Street?

The Bharathiyar Street falls under the jurisdiction of the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

The guideline value is a crucial factor when registering property transactions in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the buyer must ensure that the sale price is not lower than the guideline value, as the registration office will charge duty based on the higher of the two figures. This ensures that the transaction remains compliant with local regulations.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Bharathiyar Street?

Bharathiyar Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for a property in Bharathiyar Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Bharathiyar Street?

The Tambaram Joint 1 Sub Registrar Office covers Bharathiyar Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.