Guideline Value for New Bharathiyar 1st Street

New Bharathiyar 1st Street guideline value

The current guideline value of New Bharathiyar 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Palavanthangal village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of New Bharathiyar 1st Street has changed

The guideline value for New Bharathiyar 1st Street has undergone several revisions over the years. The earliest recorded value was Rs 1,250 per sq.ft in 2007, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 180%. However, this value saw a decrease to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024, representing an increase of 11%.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 212%.

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. The median value is Rs 3,900 per sq.ft, which is equal to the current guideline value of New Bharathiyar 1st Street.

• New Bharathiyar 2nd Street: Rs 3,900 per sq.ft (2024)
• New Bharathiyar Street: Rs 3,900 per sq.ft (2024)
• New colony 1st Lane: Rs 2,800 per sq.ft (2024)
• New Colony 1st Street: Rs 2,800 per sq.ft (2024)
• New Colony 2nd Lane: Rs 2,800 per sq.ft (2024)
• New Colony 2nd Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in New Bharathiyar 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. Please 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.

Which Sub Registrar Office covers New Bharathiyar 1st Street?

The New Bharathiyar 1st Street falls under the jurisdiction of 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 is an essential factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of New Bharathiyar 1st Street?

The current guideline value of New Bharathiyar 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,250 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 212% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in New Bharathiyar 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the registration office for New Bharathiyar 1st Street?

The registration office for New Bharathiyar 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What are the other streets in Palavanthangal with similar guideline values?

Other streets in Palavanthangal with a guideline value of Rs 3,900 per sq.ft include New Bharathiyar 2nd Street and New Bharathiyar Street.