Guideline Value for Bharath Avenue Extension

Bharath Avenue Extension guideline value

The current guideline value of Bharath Avenue Extension is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Bharath Avenue Extension has changed

The guideline value for Bharath Avenue Extension has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,500 per sq.ft. In 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a drop of 33%. However, this was followed by a significant increase in 2023, where the value rose to Rs 2,500 per sq.ft, and then further increased to Rs 2,750 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The 2023 revision saw a notable increase of 49% from the 2017 figure. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value range from Rs 1,100 to Rs 8,800 per sq.ft. The median value across these streets is Rs 1,650 per sq.ft, placing Bharath Avenue Extension's 2024 figure above this median.

• Bharathan Street: Rs 1,650 per sq.ft (2024)
• Beeshmar Street: Rs 1,650 per sq.ft (2024)
• Barath Avenue I: Rs 2,750 per sq.ft (2024)
• Barath Avenue: Rs 2,750 per sq.ft (2024)
• Banu Avenue: Rs 1,650 per sq.ft (2024)
• Bharathiyar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bharath Avenue Extension

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, bringing the total fees to 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.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharath Avenue Extension?

The Sub Registrar Office that covers Bharath Avenue Extension 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 serves as a benchmark for property transactions in Chitlapakkam. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation set by the government.

During the registration process, the guideline value is critical as it helps in establishing the legal framework for property transactions. Buyers and sellers must be aware of this value to understand their financial obligations during the registration of property.

Frequently asked questions

What is the current guideline value of Bharath Avenue Extension?

The current guideline value of Bharath Avenue Extension 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 back 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 for Bharath Avenue Extension?

Bharath Avenue Extension is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Bharath Avenue Extension?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.