Guideline Value for 7th Avenue Bharathi Colony

7th Avenue Bharathi Colony guideline value

The current guideline value of 7th Avenue Bharathi Colony is Rs 13,200 per sq.ft, effective from 1 July 2024. This area is located in Thirumangalam village and falls under the AnnaNagar SRO, with a land classification of Mixed Type - II.

How the guideline value of 7th Avenue Bharathi Colony has changed

The guideline value for 7th Avenue Bharathi Colony has seen several revisions over the years. The 2007 revision set the rate at Rs 11,000 per sq.ft, which increased to Rs 12,000 per sq.ft in 2012. However, this figure then dropped to Rs 8,040 per sq.ft in 2017. Following that, the value rose significantly to Rs 12,000 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 13,200 per sq.ft.

In terms of percentage changes, the value increased by 10% from 2023 to 2024, and there was a notable increase of 49% from 2017 to 2023. The 2012 to 2017 period saw a decrease of 33%, while the 2007 to 2012 period experienced a rise of 9%. Overall, from 2007 to 2024, the guideline value has increased by 20%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,900 per sq.ft, with a median value of Rs 11,500 per sq.ft. The guideline value of 7th Avenue Bharathi Colony is above this median.

• 7th Avenue Appolo Flats: Rs 13,200 per sq.ft (2024)
• 7th Avenue , “L” West Appolo Flats: Rs 13,200 per sq.ft (2024)
• 7th Avenue, Ambedkar Statute to old Thirumangalam, End Point Facing East West and West East Both sides coovam River Area near Bridge: Rs 13,200 per sq.ft (2024)
• 7 th Avenue, 100 feet Road: Rs 13,200 per sq.ft (2024)
• 2nd Avenue: Rs 15,900 per sq.ft (2024)
• Y- Block (West) 1593, 3013, 3065 2907 (Near Natesan Co-operative Training Institute) 13th Main Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in 7th Avenue Bharathi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000. Together, the total amount for stamp duty and registration fee would be Rs 11,88,000. 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 further calculations.

Which Sub Registrar Office covers 7th Avenue Bharathi Colony?

The Sub Registrar Office that covers 7th Avenue Bharathi Colony is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

When buying or selling property in Thirumangalam, the guideline value plays a crucial role in determining the registration fees and stamp duty payable. The guideline value is set by the government and is used as a benchmark for property transactions in the area.

Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the region.

Frequently asked questions

What is the current guideline value of 7th Avenue Bharathi Colony?

The current guideline value of 7th Avenue Bharathi Colony is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 11,000 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, with various revisions in between, including a drop to Rs 8,040 per sq.ft in 2017.

What is the land classification for 7th Avenue Bharathi Colony?

The land classification for 7th Avenue Bharathi Colony is Mixed Type - II, which indicates a mix of residential and commercial uses.

Where can I find the Sub Registrar Office for 7th Avenue Bharathi Colony?

The Sub Registrar Office for 7th Avenue Bharathi Colony is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Thirumangalam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.