Guideline Value for Bharathiyar Street

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street in Maduravoyal village, under the Virugambakkam SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class V Type - I land classification.

How the guideline value of Bharathiyar Street has changed

The guideline value for Bharathiyar Street has seen several revisions over the years. Starting from Rs 150 per sq.ft in 2002, the value increased to Rs 165 per sq.ft in 2003, marking a 10% rise. The next significant jump occurred in 2007, where the value surged to Rs 300 per sq.ft, an increase of 82%. Following that, in 2012, the value was revised to Rs 2,000 per sq.ft, which was a substantial increase of 567% from the previous revision. However, in 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The most recent revisions show that the value increased to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,367%. There are no figures available for any revisions other than those listed above for Bharathiyar Street.

Guideline values in Maduravoyal

In Maduravoyal, there are 636 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,050 per sq.ft, with a median value of Rs 3,050 per sq.ft. The guideline value for Bharathiyar Street is below this median.

• Bharathidasan Nagar: Rs 2,750 per sq.ft (2024)
• Chakrapani Nagar 10th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 11th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 12th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 13th Street: Rs 3,600 per sq.ft (2024)
• Chakrapani Nagar 14th Street: Rs 3,600 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, 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 Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Maduravoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that all transactions are recorded accurately and transparently.

Frequently asked questions

What is the current guideline value of Bharathiyar Street?

The current guideline value of Bharathiyar Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, with various revisions in between, including significant increases and a decrease in 2017.

What is the land classification for Bharathiyar Street?

Bharathiyar Street is classified as Residential Class V Type - I, which is relevant for determining its guideline value and other regulatory aspects.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000 in fees.

Where is the Sub Registrar Office for Bharathiyar Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037, and it handles registrations for Bharathiyar Street.