Guideline Value for Bharath Avenue

Bharath Avenue guideline value

The current guideline value of Bharath Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Bharath Avenue has changed

The guideline value for Bharath Avenue has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, which was a decline of 33%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, representing a 64% increase from the 2017 figure.

It is important to note that there are no recorded figures for Bharath Avenue in the revisions for 2023, 2003, and 2002. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Bharath Avenue.

• Bharathiar 1st Street: Rs 3,300 per sq.ft (2024)
• Bharathiar 2nd Street: Rs 3,300 per sq.ft (2024)
• Bharathiar 3rd Street: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar 3rd Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Bharath Avenue?

The Sub Registrar Office that covers Bharath Avenue is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining 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 of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharath Avenue?

The current guideline value of Bharath Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over the years.

What is the land classification for Bharath Avenue?

Bharath Avenue is classified as Residential Class I Type - I according to the land classification standards.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Bharath Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, on a property with a guideline value of Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.