Guideline Value for Bharath Avenue

Bharath Avenue guideline value

The current guideline value of Bharath Avenue in Nanmangalam village is Rs 1,960 per sq.ft, effective from 1 July 2024. This property falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Bharath Avenue has changed

The guideline value for Bharath Avenue has seen several revisions over the years. Starting from Rs 55 per sq.ft in 2002, it increased to Rs 77 per sq.ft in 2003, marking a 40% rise. In 2007, the value jumped significantly to Rs 300 per sq.ft, reflecting a 290% increase. The 2012 revision saw the value at Rs 1,800 per sq.ft, which was a substantial increase of 500% from the previous figure. However, in 2017, the guideline value decreased to Rs 1,206 per sq.ft, showing a decline of 33%.

From 2017 to 2023, the value rose to Rs 1,800 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the value at Rs 1,960 per sq.ft, a 9% increase from the 2023 figure. There are no figures available for the revisions in years not listed.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO, with guideline values for 2024 ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, placing Bharath Avenue's current value below that median.

• Bharathi Street: Rs 1,960 per sq.ft (2024)
• Balasubramaniya Nagar: Rs 1,960 per sq.ft (2024)
• Balaraman Street: Rs 1,960 per sq.ft (2024)
• Balaraman 1 To 2 Streets: Rs 1,960 per sq.ft (2024)
• Balakrishnan Street: Rs 1,980 per sq.ft (2024)
• Bramin Street: Rs 2,750 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 1,960 per sq.ft, the total guideline value would be Rs 19,60,000. The stamp duty at 7% would amount to Rs 1,37,200, while the registration fee at 2% would be Rs 39,200, bringing the total cost for these fees to Rs 1,76,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharath Avenue?

The Sub Registrar Office that covers Bharath Avenue is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nanmangalam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Bharath Avenue?

The current guideline value of Bharath Avenue is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 55 per sq.ft in 2002 to Rs 1,960 per sq.ft in 2024, reflecting an overall increase of 3464% over the years.

What is the land classification of Bharath Avenue?

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

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

The Sub Registrar Office for Bharath Avenue is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the 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 the current guideline value, the total fees would amount to Rs 1,76,400.