Guideline Value for Bharathiyar Street

Bharathiyar Street guideline value

The current guideline value of Bharathiyar Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

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 recorded a guideline value of Rs 850 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in the 2012 revision, marking a substantial rise of 312%. However, the value then decreased to Rs 2,345 per sq.ft in 2017, reflecting a decline of 33%. The most recent revisions show a steady increase, with the 2023 revision at Rs 3,500 per sq.ft, followed by a 10% increase to Rs 3,850 per sq.ft in the 2024 revision.

The guideline value has changed from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, which is an overall increase of 353% since the 2007 revision. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with the 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Bharathiyar Street's 2024 figure below that median.

• Canara Bank Colony: Rs 4,400 per sq.ft (2024)
• Beeran Street: Rs 3,300 per sq.ft (2024)
• Baskar Street (Near M.G.R.Street): Rs 3,300 per sq.ft (2024)
• Baskar Colony: Rs 5,500 per sq.ft (2024)
• Barani Colony - Thiivakar Street: Rs 6,600 per sq.ft (2024)
• Barani Colony - Surya street: Rs 6,600 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at a rate of 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. 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 detailed calculations.

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. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Saligramam, as it determines the official value of the property for registration purposes. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

Additionally, the guideline value serves as a benchmark for property transactions, ensuring that the values are aligned with government regulations. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies 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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 850 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of 353% over these years.

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

For a property of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office covers Bharathiyar Street?

The Virugambakkam Sub Registrar Office covers Bharathiyar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Bharathiyar Street?

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