Guideline Value for Bharathiyar2nd Street

Bharathiyar2nd Street guideline value

The current guideline value of Bharathiyar2nd Street in Palavanthangal village, under the Alandur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Bharathiyar2nd Street has changed

The guideline value of Bharathiyar2nd Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,250 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in the 2017 revision. The 2023 revision saw a significant increase to Rs 3,000 per sq.ft, and the current 2024 revision reflects a further increase to Rs 3,300 per sq.ft.

In terms of percentage changes, the value increased by 140% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 10%. Overall, from 2007 to 2024, the guideline value has risen by 164%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,900 per sq.ft. Bharathiyar2nd Street's 2024 guideline value is below this median.

• Bharathiyar 2nd Lane: Rs 3,300 per sq.ft (2024)
• Bharathiyar 1st Lane: Rs 3,300 per sq.ft (2024)
• Bharathiyar First Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar Street Extension: Rs 3,300 per sq.ft (2024)
• Brundavan Nagar: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar2nd Street?

The Sub Registrar Office that covers Bharathiyar2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Palavanthangal. It is used as a reference point for calculating stamp duty and registration fees during property registration. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to understand the financial implications of their transactions.

When a property is sold, the guideline value can influence the sale price. The registration process requires that the stamp duty is paid based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathiyar2nd Street?

The current guideline value of Bharathiyar2nd 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 changed from Rs 1,250 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 164% over the years.

What is the land classification for Bharathiyar2nd Street?

Bharathiyar2nd Street is classified as Residential Class II Type - I.

Where can I find the Alandur Sub Registrar Office?

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

How is stamp duty calculated for properties in Bharathiyar2nd Street?

Stamp duty is calculated at 7% of 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.