Guideline Value for Bharathiyar Street

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Ullagaram village, under the Alandur SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This street 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. In 2002, the value was Rs 172 per sq.ft, which increased to Rs 369 per sq.ft in 2003, marking a significant rise of 115%. The value then surged dramatically to Rs 1,200 per sq.ft in 2007, reflecting a 225% increase. Following this, the value was revised to Rs 2,500 per sq.ft in 2012, which was a decrease of 33% from the previous revision. In 2017, the value increased to Rs 1,675 per sq.ft, showing a rise of 49% from 2012. The guideline value further increased to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,800 per sq.ft in 2024, which is a 12% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,528%. There are no figures available for the revisions in years not mentioned in the register.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,800 per sq.ft, which is equal to the current value of Bharathiyar Street.

• Bharathi Street: Rs 2,200 per sq.ft (2024)
• Bhavani Colony / Venkatesa Nagar: Rs 2,800 per sq.ft (2024)
• Bharathidasan Street: Rs 2,800 per sq.ft (2024)
• Bharathi Cross Street: Rs 2,800 per sq.ft (2024)
• Bhaghat Singh Street: Rs 2,800 per sq.ft (2024)
• Balammal Nagar Road: Rs 2,800 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to 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.

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 Ullagaram

The guideline value is a crucial factor when buying or selling property in Ullagaram. It determines the minimum price at which a property can be registered and is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must be aware of the guideline value as it impacts the overall transaction costs.

When a property is sold, the guideline value ensures that the state receives the appropriate revenue through stamp duty. Therefore, understanding the guideline value is essential for both buyers and sellers in the real estate market.

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 significantly from Rs 172 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting a total increase of 1,528% over the years.

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 registration fees for property transactions?

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

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

The Sub Registrar Office for Bharathiyar Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.