Guideline Value for Bharathiyar Street

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Chembakkam village is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Selaiyur SRO and is classified as Residential Class II Type - I.

How the guideline value of Bharathiyar Street has changed

The guideline value for Bharathiyar Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 1,500 per sq.ft. This value remained unchanged until the next revision in 2017, which saw a decrease to Rs 1,005 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no recorded figures for Bharathiyar Street in the revisions of 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value among these streets is Rs 2,200 per sq.ft, placing Bharathiyar Street's 2024 figure below that median.

• Bhavanandhiar 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 1st Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 2nd Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Bhavanandhiar 3rd Street: Rs 2,700 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 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and 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 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 Chembakkam

The guideline value is a crucial factor during the registration of property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the minimum price for the transaction. This value is used to calculate the applicable stamp duty and registration fees, which are essential components of the property transfer process.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, with notable fluctuations such as a decrease to Rs 1,005 per sq.ft in 2017 and an increase to Rs 1,500 per sq.ft in 2023.

What is the land classification for Bharathiyar Street?

Bharathiyar Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For a property valued at Rs 16,00,000, the total fees would amount to Rs 1,44,000.

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

The Sub Registrar Office for 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.