Guideline Value for Barath Avenue

Barath Avenue guideline value

The current guideline value of Barath Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO and falls under the Residential Class I Type - II land classification.

How the guideline value of Barath Avenue has changed

The guideline value for Barath Avenue has undergone several revisions over the years. In 2012, the guideline value was Rs 2,500 per sq.ft, which decreased to Rs 1,675 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 has set the value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is worth noting that there are no figures available for the years 2002, 2003, and 2007 in the register for Barath Avenue. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, and Barath Avenue's 2024 figure of Rs 2,750 per sq.ft is above this median.

• Barath Avenue I: Rs 2,750 per sq.ft (2024)
• Banu Avenue: Rs 1,650 per sq.ft (2024)
• Balu Avenue: Rs 2,750 per sq.ft (2024)
• Balavinayagar Koil Street: Rs 3,300 per sq.ft (2024)
• Beeshmar Street: Rs 1,650 per sq.ft (2024)
• Bharathan Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Barath Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total charges Rs 2,47,500. It is important to note that the 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 Barath Avenue?

The Sub Registrar Office that covers Barath Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chitlapakkam. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory charges during the registration of the property.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the financial aspects of property transactions. Ensuring that the property is registered at the correct guideline value helps in maintaining compliance with local regulations.

Frequently asked questions

What is the current guideline value of Barath Avenue?

The current guideline value of Barath Avenue is Rs 2,750 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 increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Barath Avenue?

Barath Avenue is classified as Residential Class I Type - II, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Barath Avenue?

The Sub Registrar Office for Barath Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Barath Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,750 per sq.ft incurs a total guideline value of Rs 27,50,000, leading to a stamp duty of Rs 1,92,500.