Guideline Value for BHASKAR COLONY 1st Street

BHASKAR COLONY 1st Street guideline value

The current guideline value of BHASKAR COLONY 1st Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of BHASKAR COLONY 1st Street has changed

The guideline value for BHASKAR COLONY 1st Street has seen several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 233%. However, the value decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The 2023 revision set the value at Rs 5,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the 2024 revision, there has been a total increase of 267%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, placing BHASKAR COLONY 1st Street's 2024 figure above this median.

• BHASKAR COLONY 2nd Street: Rs 5,500 per sq.ft (2024)
• BHASKAR COLONY 3rd Street: Rs 5,500 per sq.ft (2024)
• BHASKAR COLONY - Bharathidasan Street: Rs 5,500 per sq.ft (2024)
• Bhattachariar Street Kaliamman Koil Street: Rs 5,500 per sq.ft (2024)
• Bharathi Street (Venkatesa Nagar): Rs 4,400 per sq.ft (2024)
• Boopathi Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in BHASKAR COLONY 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total charges Rs 4,95,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers BHASKAR COLONY 1st Street?

The Sub Registrar Office that covers BHASKAR COLONY 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Virugambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of BHASKAR COLONY 1st Street?

The current guideline value of BHASKAR COLONY 1st Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, which is an overall increase of 267%.

What is the stamp duty for property in BHASKAR COLONY 1st Street?

The stamp duty for property in BHASKAR COLONY 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for BHASKAR COLONY 1st Street located?

The Sub Registrar Office for BHASKAR COLONY 1st Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value determined for properties in Virugambakkam?

The guideline value for properties in Virugambakkam is determined by the Registration Department's guideline value register, which is revised periodically based on various factors.