Guideline Value for Bharathiyar Street

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Kanagam village, under the Adayar SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class III 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 figure is from 2002, where the value was Rs 165 per sq.ft. This increased to Rs 425 per sq.ft in 2003, marking a change of +158%. Following this, the value rose to Rs 800 per sq.ft in 2007, which was a significant increase of +88%. The 2012 revision saw the value at Rs 2,500 per sq.ft, reflecting a rise of +213% from the previous figure. However, in 2017, the value dropped to Rs 1,675 per sq.ft, a decrease of -33%. The value then increased to Rs 2,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 2,800 per sq.ft, which represents an increase of +12% from the previous year.

Overall, from the 2002 figure of Rs 165 per sq.ft to the 2024 figure of Rs 2,800 per sq.ft, there has been an increase of +1597%. There are no figures for any other revisions for Bharathiyar Street in the register.

Guideline values in Kanagam

In Kanagam, there are 15 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 13,800 per sq.ft. Bharathiyar Street's 2024 figure of Rs 2,800 per sq.ft is equal to the median value for the area.

• Canal Bank Road O.M.R from Madhya Kailash: Rs 13,800 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,800 per sq.ft (2024)
• Dr.Ambethkar Street: Rs 2,800 per sq.ft (2024)
• Anna Street: Rs 3,300 per sq.ft (2024)
• Gandhi Street: Rs 2,800 per sq.ft (2024)
• Kanagam Road: Rs 3,900 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 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, making a total of Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, 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 Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Kanagam. It serves as a reference point for calculating the stamp duty and registration fees, which are mandatory for any property sale or purchase.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, thereby aiding in the transparency of property dealings. This value is used to determine the financial obligations of the buyer during the registration process.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 165 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, showing a significant increase of +1597% over the years.

What is the land classification for Bharathiyar Street?

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

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

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000, and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which office handles property registrations for Bharathiyar Street?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, handles property registrations for Bharathiyar Street.