Guideline Value for Bharathi 2nd Cross Street

Bharathi 2nd Cross Street guideline value

The current guideline value of Bharathi 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and falls under Residential Class IV Type - II land classification.

How the guideline value of Bharathi 2nd Cross Street has changed

The guideline value for Bharathi 2nd Cross Street has undergone several revisions over the years. In 2007, the value was Rs 620 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 384% rise. However, this value decreased to Rs 2,010 per sq.ft in 2017, reflecting a 33% drop. The value then increased to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a 10% rise.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 432%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which means Bharathi 2nd Cross Street's current value is below this median.

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

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 details on fees applicable to your property transaction.

Which Sub Registrar Office covers Bharathi 2nd Cross Street?

The Sub Registrar Office that covers Bharathi 2nd Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid to the government.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements during the registration process. This value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Bharathi 2nd Cross Street?

The current guideline value of Bharathi 2nd Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 620 per sq.ft to Rs 3,300 per sq.ft in 2024, representing a total increase of 432%.

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

Other streets in Kodambakkam with a guideline value of Rs 3,300 per sq.ft in 2024 include Bharathi 1st Cross Street and Bharathi 3rd Cross Street.

What fees are associated with buying property in Bharathi 2nd Cross Street?

When buying property, you will need to pay stamp duty at 7% and a registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, these fees total Rs 2,97,000.

Where can I find the Sub Registrar Office for Bharathi 2nd Cross Street?

The Sub Registrar Office for Bharathi 2nd Cross Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.