Guideline Value for Maghakavi Bharathiyar Street

Maghakavi Bharathiyar Street guideline value

The current guideline value of Maghakavi Bharathiyar Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in 5. Athipattu village under the Konnur SRO, classified as Residential Class II Type - I.

How the guideline value of Maghakavi Bharathiyar Street has changed

The guideline value for Maghakavi Bharathiyar Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in 2023. The latest revision in 2024 raised it further to Rs 1,600 per sq.ft, marking a 7% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 59%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was significant at 49%, indicating a substantial change in the guideline value over this period.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO, with guideline values ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median guideline value for the area is Rs 2,200 per sq.ft, placing Maghakavi Bharathiyar Street's 2024 figure below this median.

• Mahatma Gandhi Road: Rs 2,200 per sq.ft (2024)
• Manimuthu Aaru(ICF): Rs 2,400 per sq.ft (2024)
• Mariammankoil Street (Kuppam): Rs 1,600 per sq.ft (2024)
• Mariamman Street: Rs 1,600 per sq.ft (2024)
• Masuthi Street (Chelliamman): Rs 2,200 per sq.ft (2024)
• Meenakshi Avenue: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Maghakavi Bharathiyar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maghakavi Bharathiyar Street?

The Sub Registrar Office covering Maghakavi Bharathiyar Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor in property transactions, as it determines the stamp duty and registration fees payable at the time of registration. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and avoid any legal issues during the transaction process.

When registering a property, the guideline value serves as a benchmark for the minimum value on which stamp duty is calculated. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Maghakavi Bharathiyar Street?

The current guideline value of Maghakavi Bharathiyar Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Maghakavi Bharathiyar Street has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 59% over this period.

What is the land classification for Maghakavi Bharathiyar Street?

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

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Where is the Sub Registrar Office for Maghakavi Bharathiyar Street located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.