Guideline Value for Bharathiyar Street

Bharathiyar Street guideline value

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

How the guideline value of Bharathiyar Street has changed

Starting from the 2007 revision, the guideline value for Bharathiyar Street was Rs 1,000 per sq.ft. It saw a significant increase to Rs 3,000 per sq.ft in the 2012 revision, which was a 200% rise. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, marking a decrease of 33% from the previous revision. The value then increased again to Rs 3,000 per sq.ft in the 2023 revision, which was a 49% increase.

The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Bharathiyar Street.

• Bharath Rajiv Gandhi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Bharath Rajiv Gandhi Nagar 6th Street: 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 rate of Rs 3,300 per sq.ft, the guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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 on fees applicable to your property transaction.

Which Sub Registrar Office covers Bharathiyar Street?

Bharathiyar Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate applicable stamp duty and registration fees. These fees are essential costs that must be accounted for in any property transaction in the area.

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 seen several changes, starting from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230%.

What is the land classification for Bharathiyar Street?

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

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.