Guideline Value for Bharath Colony

Bharath Colony guideline value

The current guideline value of Bharath Colony, located in Kodambakkam village under the Ashok Nagar SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Bharath Colony has changed

The guideline value for Bharath Colony has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 1,210 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in 2012, marking a rise of 313%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then rose again to Rs 5,000 per sq.ft in 2023, and most recently, it has increased to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 355%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with a 2024 guideline value range from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, positioning Bharath Colony's 2024 value above this median.

• Bharathi 1st Cross Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Bharathi 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Bharathi 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Bharathidasan Colony: Rs 6,600 per sq.ft (2024)
• Bharathidasan Colony Main Road: Rs 6,600 per sq.ft (2024)
• Bharathidasan Road 1st Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bharath Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. The duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharath Colony?

The Bharath Colony is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these charges are based on a standardized value rather than fluctuating market prices.

When a property transaction occurs, the guideline value is assessed, and the applicable fees are calculated based on this value or the sale price, whichever is higher. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Bharath Colony?

The current guideline value of Bharath Colony is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 355% over the years.

What is the stamp duty rate for properties in Bharath Colony?

The stamp duty rate for properties in Bharath Colony is 7% of the guideline value or sale price, whichever is higher.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include Bharathi 1st Cross Street, Bharathi 2nd Cross Street, Bharathi 3rd Cross Street, Bharathidasan Colony, Bharathidasan Colony Main Road, and Bharathidasan Road 1st Street, with guideline values ranging from Rs 3,300 to Rs 6,600 per sq.ft in 2024.