Guideline Value for Bharathiyar Street

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Moovarasampattu village, under the Alandur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Bharathiyar Street has changed

Over the years, the guideline value of Bharathiyar Street has seen significant changes. The earliest recorded figure is from 2002, with a guideline value of Rs 171 per sq.ft. This increased to Rs 188 per sq.ft in 2003, marking a 10% rise. Following that, the value rose to Rs 400 per sq.ft in 2007, which is an increase of 113%. The value then jumped dramatically to Rs 3,000 per sq.ft in 2012, reflecting a 650% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value further increased to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision, showing a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2002 figure to the current 2024 figure, there has been a remarkable increase of 1,830%. The register has no figures for the years not listed in the revisions.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value for Bharathiyar Street.

• Bharathiyar First Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar 2nd Cross: Rs 3,300 per sq.ft (2024)
• Bharathiyar 1st Cross: Rs 3,300 per sq.ft (2024)
• Bhavani Street(Ganga Nagar): Rs 3,300 per sq.ft (2024)
• Brahamaputhira Street: Rs 3,300 per sq.ft (2024)
• Balaya Nagar: Rs 3,300 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. 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 Sub Registrar Office that covers Bharathiyar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Moovarasampattu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 171 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,830% over this period.

What is the land classification for Bharathiyar Street?

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

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Where is the Sub Registrar Office for Bharathiyar Street located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061, and it oversees the registration of properties in Bharathiyar Street.