Guideline Value for BHASKAR COLONY - Bharathidasan Street

BHASKAR COLONY - Bharathidasan Street guideline value

The current guideline value for BHASKAR COLONY - Bharathidasan 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. The land classification for this area is Residential Class II Type - I.

How the guideline value of BHASKAR COLONY - Bharathidasan Street has changed

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

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which means that the 2024 figure for BHASKAR COLONY - Bharathidasan Street is above the median.

• BHASKAR COLONY 3rd Street: Rs 5,500 per sq.ft (2024)
• BHASKAR COLONY 2nd 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 - Bharathidasan 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, bringing the total fees to 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 - Bharathidasan Street?

The Sub Registrar Office that covers BHASKAR COLONY - Bharathidasan 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 critical factor during property registration 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 revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is essential for buyers to be aware of this value to avoid disputes during the registration process.

Frequently asked questions

What is the current guideline value of BHASKAR COLONY - Bharathidasan Street?

The current guideline value of BHASKAR COLONY - Bharathidasan 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 several times, 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 the years.

What is the median guideline value in Virugambakkam?

The median guideline value in Virugambakkam is Rs 4,400 per sq.ft, with BHASKAR COLONY - Bharathidasan Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where can I find the Sub Registrar Office for BHASKAR COLONY - Bharathidasan Street?

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