Guideline Value for Barkavi Avenue

Barkavi Avenue guideline value

The current guideline value of Barkavi Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Gooduvancheri SRO and is classified as Commercial Special Type - I.

How the guideline value of Barkavi Avenue has changed

The guideline value for Barkavi Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, maintaining the same figure in the 2024 revision, resulting in a 49% increase from 2017 to 2023.

There are no figures available for the years 2002, 2003, and 2007 in the register for Barkavi Avenue. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 1,200 per sq.ft.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,200 per sq.ft, which is equal to the guideline value of Barkavi Avenue.

• Bharath Avenue: Rs 1,200 per sq.ft (2024)
• Balaji Nagar Extn: Rs 1,200 per sq.ft (2024)
• Balaji Nagar: Rs 1,200 per sq.ft (2024)
• Bhuvaneshwari Nagar: Rs 1,200 per sq.ft (2024)
• Bhuvaneshwari Nagar Extn: Rs 1,200 per sq.ft (2024)
• Bhuvaneshwari Nagar Extn-II: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Barkavi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Barkavi Avenue?

The Sub Registrar Office covering Barkavi Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Madambakkam. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Barkavi Avenue?

The current guideline value of Barkavi Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent figures being Rs 1,200 per sq.ft in both 2023 and 2024. The value was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification of Barkavi Avenue?

Barkavi Avenue is classified as Commercial Special Type - I, which influences its guideline value and potential uses.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Barkavi Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 at 7%.