Guideline Value for Bharathi Avenue 2nd Street

Bharathi Avenue 2nd Street guideline value

The current guideline value of Bharathi Avenue 2nd Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Kottur village, under the Adayar SRO, and falls under the Residential Class IV Type - II land classification.

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

The guideline value for Bharathi Avenue 2nd Street has seen several revisions over the years. In 2002, the guideline value was Rs 1,050 per sq.ft, which increased to Rs 1,132 per sq.ft in 2003, marking an increase of 8%. The value then rose significantly to Rs 3,000 per sq.ft in 2007, reflecting a substantial increase of 165%. Following this, the value saw another increase to Rs 4,500 per sq.ft in 2012, which was a 50% rise. However, from 2012 to 2017, the value decreased to Rs 3,015 per sq.ft, a decline of 33%. The guideline value then increased to Rs 4,500 per sq.ft in 2023, showing a rise of 49%. The most recent revision in 2024 set the value at Rs 5,000 per sq.ft, an increase of 11% from the previous year.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 is an increase of 376%.

Guideline values in Kottur

Kottur village has a total of 114 streets under the Adayar SRO that carry a guideline value for 2024, ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value for these streets is Rs 6,100 per sq.ft, placing Bharathi Avenue 2nd Street's 2024 figure below that median.

• Bharathi Avenue 1st Street: Rs 5,000 per sq.ft (2024)
• Bharathi Avenue: Rs 5,000 per sq.ft (2024)
• Balaji Street: Rs 6,100 per sq.ft (2024)
• Canal Bank Main Road: Rs 6,600 per sq.ft (2024)
• Canal Bank Road East: Rs 6,600 per sq.ft (2024)
• Canal Bank Road Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Avenue 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty is charged at 7%, which totals Rs 3,50,000, and the registration fee is charged at 2%, amounting to Rs 1,00,000. Therefore, the total cost for stamp duty and registration fee together is Rs 4,50,000. 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 Bharathi Avenue 2nd Street?

The Sub Registrar Office that covers Bharathi Avenue 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value serves as a benchmark for property transactions in Kottur. When buying or selling property, this value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on an officially recognized price.

At the time of registration, the guideline value is essential for both buyers and sellers, as it influences the overall financial obligations associated with the transaction. It is crucial for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Bharathi Avenue 2nd Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,050 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, showing an overall increase of 376% over the years.

What is the land classification of Bharathi Avenue 2nd Street?

Bharathi Avenue 2nd Street falls under the Residential Class IV Type - II land classification.

What is the median guideline value for streets in Kottur?

The median guideline value for the 114 streets in Kottur under the Adayar SRO is Rs 6,100 per sq.ft, which is above the current guideline value of Bharathi Avenue 2nd Street.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.