Guideline Value for Bharathiyar Street

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Kathirvedu village, under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - II land classification.

How the guideline value of Bharathiyar Street has changed

Over the years, the guideline value of Bharathiyar Street has seen several revisions. The 2007 revision set the value at Rs 200 per sq.ft, which significantly increased to Rs 1,200 per sq.ft in 2012, marking a remarkable rise of 500%. However, the value dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The 2023 revision brought the value back up to Rs 1,200 per sq.ft, and the latest revision in 2024 has increased it further to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 550%, showcasing the changes in property valuation over the years.

Guideline values in Kathirvedu

Kathirvedu village has a total of 78 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft as of the 2024 revision. The median guideline value in the village is Rs 1,500 per sq.ft, which means that Bharathiyar Street's current value is below this median.

• Bhavya Avenue: Rs 1,500 per sq.ft (2024)
• Birla Avenue (Anbu Estate): Rs 1,500 per sq.ft (2024)
• Birla Avenue Annex (Anbu Estate): Rs 1,500 per sq.ft (2024)
• Birla Avenue Extension (Anbu Estate): Rs 1,500 per sq.ft (2024)
• Brittania Nagar: Rs 1,400 per sq.ft (2024)
• Cannan Habitat: Rs 1,500 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty, charged at 7%, would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000. Together, these fees would total Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Street?

The Bharathiyar Street falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration of property transactions in Kathirvedu. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish a baseline for negotiations. Buyers and sellers must consider this value to ensure compliance with legal requirements and to avoid any potential disputes 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 1,300 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 200 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 550% over the years.

What is the registration office for Bharathiyar Street?

The registration office for Bharathiyar Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

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

For a property with a guideline value of Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

How does the guideline value affect property transactions?

The guideline value sets the minimum value for calculating stamp duty and registration fees during property transactions. It is crucial for buyers and sellers to consider this value to ensure compliance with legal requirements.