Guideline Value for Bharathi Avenue

Bharathi Avenue guideline value

The current guideline value of Bharathi Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO and is classified as Residential Class IV Type - II.

How the guideline value of Bharathi Avenue has changed

The guideline value for Bharathi Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has set it at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kottivakkam

Kottivakkam has a total of 284 streets under the Adayar SRO, with 2024 guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing Bharathi Avenue's 2024 figure below this median.

• Bharathi Nagar: Rs 2,200 per sq.ft (2024)
• Beach AGS colony main Road: Rs 3,900 per sq.ft (2024)
• Beach AGS Colony 3rd Crosss St: Rs 3,900 per sq.ft (2024)
• Beach AGS Colony 2nd Cross St: Rs 3,900 per sq.ft (2024)
• Beach AGS Colony 1st Cross St: Rs 3,900 per sq.ft (2024)
• Beach AGS Colony: Rs 3,900 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 further calculations.

Which Sub Registrar Office covers Bharathi Avenue?

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

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

The guideline value is crucial during property transactions as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property in Kottivakkam, it is essential to be aware of the current guideline value as it reflects the official rate established by the government. This ensures that all transactions are conducted fairly and transparently, adhering to the legal requirements.

Frequently asked questions

What is the current guideline value of Bharathi Avenue?

The current guideline value of Bharathi Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Bharathi Avenue?

Bharathi Avenue is classified as Residential Class IV Type - II, indicating its use primarily for residential purposes.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Bharathi Avenue located?

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