Guideline Value for Bharathi 3rd Cross Street

Bharathi 3rd Cross Street guideline value

The current guideline value of Bharathi 3rd 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 the Residential Class IV Type - II land classification.

How the guideline value of Bharathi 3rd Cross Street has changed

The guideline value for Bharathi 3rd Cross Street has undergone several revisions over the years. The 2007 revision set the value at Rs 620 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value decreased by 33% to Rs 2,010 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 3,000 per sq.ft, and the latest revision in 2024 further increased it to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 432%. It is noteworthy that there are no figures available in the register for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam village, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value 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, placing Bharathi 3rd Cross Street's value below this median.

• Bharathi 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Bharathi 1st Cross Street (M.G.R.Nagar): 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 3rd 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 to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi 3rd Cross Street?

The Sub Registrar Office that covers Bharathi 3rd Cross Street is 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 is a crucial factor in property transactions in Kodambakkam. It serves as the benchmark for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must consider this value to ensure compliance with local regulations and to understand the financial implications of their transactions.

When registering a property, the guideline value helps determine the official value of the property for legal and tax purposes. It is essential for both buyers and sellers to be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Bharathi 3rd Cross Street?

The current guideline value of Bharathi 3rd Cross Street 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 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 432% over the years.

What is the median guideline value in Kodambakkam?

The median guideline value in Kodambakkam for the year 2024 is Rs 4,900 per sq.ft, which is higher than the current value of Bharathi 3rd Cross Street.

What are the stamp duty and registration fees for properties in Bharathi 3rd Cross Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Bharathi 3rd Cross Street?

The Ashok Nagar Sub Registrar Office is responsible for handling registrations for Bharathi 3rd Cross Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.