Guideline Value for Bharath Avenue

Bharath Avenue guideline value

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

How the guideline value of Bharath Avenue has changed

The guideline value for Bharath Avenue has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 245 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a substantial rise of 390%. However, the value saw a decrease to Rs 804 per sq.ft in 2017, which was a drop of 33%. The value remained unchanged at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

In summary, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 390%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Madambakkam

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

• Barkavi Avenue: Rs 1,200 per sq.ft (2024)
• Balaji Nagar Extn: 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)
• Balaji Nagar: Rs 1,200 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 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 cost for these fees to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use our stamp duty and registration fee calculator.

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, Guduvanchery-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 is a crucial factor in the registration process when buying or selling property in Madambakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bharath Avenue?

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

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 245 per sq.ft to Rs 1,200 per sq.ft in 2012, decreased to Rs 804 per sq.ft in 2017, and remained at Rs 1,200 per sq.ft in both 2023 and 2024.

What is the classification of land in Bharath Avenue?

Bharath Avenue is classified as Commercial Special Type - I, which influences its guideline value.

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

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000, leading to specific fees for registration.