Guideline Value for Thara Barathi Street

Thara Barathi Street guideline value

The current guideline value of Thara Barathi Street is Rs 2,200 per sq.ft. It is located in Madipakkam-1 village, under the Velacheri SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Thara Barathi Street has changed

The guideline value for Thara Barathi Street has undergone several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 2,000 per sq.ft, and in the 2024 revision, it increased to Rs 2,200 per sq.ft, reflecting a change of +10%.

In summary, the current guideline value stands at Rs 2,200 per sq.ft as of the 2024 revision, which is an increase from the previous year’s figure of Rs 2,000 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Thara Barathi Street's 2024 figure below that median.

• Tharabatathi Street, Jaya Nagar: Rs 2,200 per sq.ft (2024)
• Thendulkar Street: Rs 2,200 per sq.ft (2024)
• Thangavelu Street Extn: Rs 2,200 per sq.ft (2024)
• Thangavelu Street: Rs 2,200 per sq.ft (2024)
• Thangal Salai (Sadasiva Nagar): Rs 2,750 per sq.ft (2024)
• Thilagar Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Thara Barathi Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty, charged at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thara Barathi Street?

Thara Barathi Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official documents.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Thara Barathi Street?

The current guideline value of Thara Barathi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, marking a change of +10%.

What is the land classification for Thara Barathi Street?

The land classification for Thara Barathi Street is Residential Class II Type - I.

Where can I find the registration office for Thara Barathi Street?

The Velacheri Sub Registrar Office covers Thara Barathi Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Thara Barathi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.