Guideline Value for New Bharathiyar Street

New Bharathiyar Street guideline value

The current guideline value of New Bharathiyar 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 Street has changed

The guideline value for New Bharathiyar Street has seen several revisions over the years. In 2007, the value was Rs 1,250 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 180% rise. However, by 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, and most recently, it has increased to Rs 3,900 per sq.ft in 2024, reflecting an 11% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 212%. It is important to note that there are no figures available for the years 2002 and 2003 in the register 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. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of New Bharathiyar Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to 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, bringing the total cost for these fees to Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers New Bharathiyar Street?

The Sub Registrar Office that covers New Bharathiyar Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Palavanthangal. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is particularly important for calculating the stamp duty and registration fees that are required during the transaction process.

Frequently asked questions

What is the current guideline value of New Bharathiyar Street?

The current guideline value of New Bharathiyar Street is Rs 3,900 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 3,900 per sq.ft in 2024, with several revisions in between, including a decrease in 2017.

What is the median guideline value in Palavanthangal?

The median guideline value for streets in Palavanthangal is Rs 3,900 per sq.ft, which is the same as the current value for New Bharathiyar Street.

What are the stamp duty rates applicable for properties?

The stamp duty rate is 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for New Bharathiyar Street?

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