Guideline Value for Park Street Bharathiyar Nagar

Park Street Bharathiyar Nagar guideline value

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

How the guideline value of Park Street Bharathiyar Nagar has changed

The guideline value for Park Street Bharathiyar Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft. The value then increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and finally to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. However, the value decreased by 33% from the 2012 to the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Park Street Bharathiyar Nagar's 2024 figure below that median.

• Park Street Selaiyur: Rs 1,600 per sq.ft (2024)
• Pandiyaraj Street: Rs 950 per sq.ft (2024)
• Pattai Street: Rs 3,750 per sq.ft (2024)
• Pattel Street: Rs 1,300 per sq.ft (2024)
• Periyalwar Street: Rs 2,400 per sq.ft (2024)
• Palaiyathan Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Park Street Bharathiyar Nagar

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

Which Sub Registrar Office covers Park Street Bharathiyar Nagar?

The Sub Registrar Office covering Park Street Bharathiyar Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is considered to ensure that the transaction is recorded accurately in the official registry.

Additionally, the guideline value affects the stamp duty and registration fees that buyers must pay. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the transaction reflects the correct legal and financial obligations.

Frequently asked questions

What is the current guideline value of Park Street Bharathiyar Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the median guideline value for streets in Selaiyur?

The median guideline value for streets in Selaiyur is Rs 2,200 per sq.ft, which is higher than the current value of Park Street Bharathiyar Nagar.

What are the registration fees based on the guideline value?

The registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 and a registration fee of Rs 32,000.

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

The Sub Registrar Office for Park Street Bharathiyar Nagar is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.