Guideline Value for BHASKAR COLONY 3rd Street

BHASKAR COLONY 3rd Street guideline value

The current guideline value of BHASKAR COLONY 3rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the jurisdiction of the Virugambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of BHASKAR COLONY 3rd Street has changed

The guideline value for BHASKAR COLONY 3rd Street has seen several revisions over the years. In 2007, the value was set at Rs 1,500 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 233%. However, it dropped to Rs 3,350 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose sharply to Rs 5,000 per sq.ft in 2023, an increase of 49%, before reaching the current value of Rs 5,500 per sq.ft in 2024, which is a 10% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

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 guideline value for these streets is Rs 4,400 per sq.ft, placing BHASKAR COLONY 3rd Street above this median at Rs 5,500 per sq.ft.

• BHASKAR COLONY 2nd Street: Rs 5,500 per sq.ft (2024)
• BHASKAR COLONY - Bharathidasan Street: Rs 5,500 per sq.ft (2024)
• BHASKAR COLONY 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHASKAR COLONY 3rd Street?

The Sub Registrar Office that covers BHASKAR COLONY 3rd 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 details.

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

The guideline value is a crucial factor when registering property transactions in Virugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the property transaction process. Buyers should be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of BHASKAR COLONY 3rd Street?

The current guideline value of BHASKAR COLONY 3rd 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 from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 267% over these years.

What is the land classification of BHASKAR COLONY 3rd Street?

BHASKAR COLONY 3rd Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for BHASKAR COLONY 3rd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in BHASKAR COLONY 3rd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at the rate of 7%.