Guideline Value for BHARATHI AVENUE

Bharathi Avenue guideline value

The current guideline value of Bharathi Avenue is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class IV Type - III.

How the guideline value of Bharathi Avenue has changed

The guideline value of Bharathi Avenue has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a rise of 400%. 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, showing a 49% increase. The most recent revision in 2024 set the value at Rs 3,800 per sq.ft, reflecting a 9% increase from the previous year.

It is important to note that there are no figures available for Bharathi Avenue in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 443%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Bharathi Avenue's 2024 figure below this median.

• Bharathi Nagar: Rs 3,800 per sq.ft (2024)
• Bharathi Street: Rs 5,300 per sq.ft (2024)
• Bhoopathy Street: Rs 3,300 per sq.ft (2024)
• Balavinayagar Street: Rs 6,000 per sq.ft (2024)
• Balavinayagar Nagar Extn.,: Rs 6,000 per sq.ft (2024)
• Balavinayagar Nagar: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Avenue

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Avenue?

The Sub Registrar Office covering Bharathi Avenue is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Arumbakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

During the registration process, the guideline value ensures that properties are not undervalued, thereby safeguarding the interests of the state and ensuring fair revenue collection. Understanding the guideline value is essential for anyone looking to buy or sell property in the area.

Frequently asked questions

What is the current guideline value of Bharathi Avenue?

The current guideline value of Bharathi Avenue is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,800 per sq.ft in 2024, showing an overall increase of 443% over the years.

What are the other streets in Arumbakkam with their guideline values?

Other streets in Arumbakkam include Bharathi Nagar at Rs 3,800 per sq.ft, Bharathi Street at Rs 5,300 per sq.ft, Bhoopathy Street at Rs 3,300 per sq.ft, and Balavinayagar Street, Balavinayagar Nagar Extn., and Balavinayagar Nagar at Rs 6,000 per sq.ft.

What is the stamp duty and registration fee on a property in Bharathi Avenue?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.