Guideline Value for BHARATHI AVENUE

Bharathi Avenue guideline value

The current guideline value of Bharathi Avenue, located in Enjambakkam village under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Bharathi Avenue has changed

The guideline value for Bharathi Avenue has seen significant changes over the years. Starting from the 2003 revision, the value was Rs 352 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a substantial rise of 184%. The 2012 revision saw a further increase to Rs 2,500 per sq.ft, a jump of 150%. However, in 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, followed by the latest increase to Rs 2,800 per sq.ft in 2024, which is a 12% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by a remarkable 695%. It is important to note that there is no figure available for Bharathi Avenue in the 2002 revision.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Bharathi Avenue is above this median, indicating its relatively higher valuation compared to other streets in the area.

• Bhakthavedantha Swami Salai: Rs 3,300 per sq.ft (2024)
• Bethaiah Salai: Rs 1,100 per sq.ft (2024)
• Bay Watch Farms 3rd Street: Rs 3,300 per sq.ft (2024)
• Bay Watch Farms 2nd Street: Rs 3,300 per sq.ft (2024)
• Bay Watch Farms 1st Street: Rs 3,300 per sq.ft (2024)
• Bay Watch Farms: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total charges to Rs 2,52,000. It is important to note that 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 that covers Bharathi Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value is used to assess the official value of the property, which impacts the overall costs involved in the sale.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as per the government’s assessment. This value is essential for both parties to understand their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Bharathi Avenue?

The current guideline value of Bharathi Avenue is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 352 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 695% over this period.

What is the land classification of Bharathi Avenue?

Bharathi Avenue is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the SRO for Bharathi Avenue?

The Sub Registrar Office for Bharathi Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is stamp duty calculated for properties in Bharathi Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000, leading to specific charges for stamp duty and registration fees.