Guideline Value for Bharathi Avenue

Bharathi Avenue guideline value

The current guideline value of Bharathi Avenue in Mevaloorkuppam village, under the Sriperumpudur SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

How the guideline value of Bharathi Avenue has changed

The guideline value for Bharathi Avenue has undergone several revisions over the years. In 2007, the value was Rs 175 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, it then dropped to Rs 335 per sq.ft in 2017. The most recent revisions in 2023 and 2024 maintained the value at Rs 500 per sq.ft, indicating no change between these two years.

From 2017 to 2023, there was a notable increase of 49%, and from 2007 to 2012, the value rose by 186%. Overall, from 2007 to 2024, the guideline value has increased by 186%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mevaloorkuppam

In Mevaloorkuppam, there are 69 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 2,400 per sq.ft, with a median value of Rs 400 per sq.ft. Bharathi Avenue's guideline value of Rs 500 per sq.ft is above this median.

• Bharathiyar Street: Rs 300 per sq.ft (2024)
• Bramanar Street: Rs 300 per sq.ft (2024)
• Bajanai Koil Street: Rs 300 per sq.ft (2024)
• Compact Home Niranjana: Rs 1,075 per sq.ft (2024)
• Compact Homes -Manjari: Rs 900 per sq.ft (2024)
• Cosmocity: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, resulting in a total of Rs 45,000 for these charges. 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.

Which Sub Registrar Office covers Bharathi Avenue?

The Sub Registrar Office that covers Bharathi Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Mevaloorkuppam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Bharathi Avenue?

The current guideline value of Bharathi Avenue is Rs 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 175 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, then decreased to Rs 335 per sq.ft in 2017, and has remained at Rs 500 per sq.ft in both 2023 and 2024.

What is the median guideline value in Mevaloorkuppam?

The median guideline value in Mevaloorkuppam is Rs 400 per sq.ft, with Bharathi Avenue's value of Rs 500 per sq.ft being above this median.

What are the stamp duty and registration fees for property in Bharathi Avenue?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000 in charges.

Which office do I need to visit for property registration in Bharathi Avenue?

The Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone, covers property registration for Bharathi Avenue.