Guideline Value for BHARATHY AVENUE

Bharathy Avenue guideline value

The current guideline value of Bharathy Avenue is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village under the Neelankarai SRO and is classified as Residential Class III Type - I.

How the guideline value of Bharathy Avenue has changed

The guideline value for Bharathy Avenue has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and most recently, it has risen to Rs 2,800 per sq.ft in 2024, marking a change of +12% from the previous year. Overall, from 2012 to 2024, the guideline value has increased by +12%.

There are no figures available for the years 2002, 2003, and 2007 in the register for Bharathy Avenue. The changes between the revisions indicate a +49% increase from 2017 to 2023, and a -33% decrease from 2012 to 2017.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Bharathy Avenue's current guideline value is below this median.

• Bharathiyar Street: Rs 3,300 per sq.ft (2024)
• Bound Salai: Rs 2,200 per sq.ft (2024)
• Bharathidasan Street: Rs 2,800 per sq.ft (2024)
• Cheran Chenkuttuvan Street: Rs 3,300 per sq.ft (2024)
• Church Street & Road: Rs 6,100 per sq.ft (2024)
• Balagangatharar Thilakar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathy 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 fees together to Rs 2,52,000. 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 information.

Which Sub Registrar Office covers Bharathy Avenue?

Bharathy Avenue falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungudi. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented accurately and fairly.

When you register a property, 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 appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathy Avenue?

The current guideline value of Bharathy 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 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification of Bharathy Avenue?

Bharathy Avenue is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Bharathy Avenue?

For a 1,000 sq.ft plot, the total guideline value is 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, totaling Rs 2,52,000.

Where is the Neelankarai Sub Registrar Office located?

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