Guideline Value for Bharath Avenue

Bharath Avenue guideline value

The current guideline value of Bharath Avenue in Kuthanoor village is Rs 800 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - III.

How the guideline value of Bharath Avenue has changed

The guideline value for Bharath Avenue has seen several revisions over the years. In 2007, the value was Rs 145 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a rise of 452%. However, from 2012 to 2017, the value decreased to Rs 536 per sq.ft, a decline of 33%. The value then rose again to Rs 800 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 452%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kuthanoor

In Kuthanoor village, there are 30 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value is Rs 800 per sq.ft, which is equal to the 2024 figure for Bharath Avenue.

• Aswath Nagar: Rs 805 per sq.ft (2024)
• Asthalakshmi Nagar: Rs 705 per sq.ft (2024)
• Chitti Vinayagar Nagar: Rs 400 per sq.ft (2024)
• Ashvath Nagar Extn I: Rs 800 per sq.ft (2024)
• Amman Avenue: Rs 400 per sq.ft (2024)
• E.R. Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharath Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty is charged at 7%, which totals Rs 56,000, and the registration fee is at 2%, amounting to Rs 16,000. Together, the total cost for stamp duty and registration fee is Rs 72,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Bharath Avenue?

The Sub Registrar Office that covers Bharath 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 Kuthanoor

The guideline value is a crucial factor during the registration of property transactions in Kuthanoor. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers adhere to the prescribed rates set by the government.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. This ensures transparency and fairness in property transactions, as it reflects the government's valuation of the property based on its location and classification.

Frequently asked questions

What is the current guideline value of Bharath Avenue?

The current guideline value of Bharath Avenue is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 800 per sq.ft, the same as in 2023. The value increased from Rs 536 per sq.ft in 2017 and Rs 145 per sq.ft in 2007.

What is the land classification for Bharath Avenue?

Bharath Avenue is classified as Residential Special Type - III, indicating its designation for residential development.

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

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

How is stamp duty calculated for property in Bharath Avenue?

Stamp duty for property in Bharath Avenue is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 56,000 at the current guideline value.