Guideline Value for Bharathi Avenue

Bharathi Avenue guideline value

The current guideline value of Bharathi Avenue, located in Kottur village under the Adayar SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Bharathi Avenue has changed

The guideline value for Bharathi Avenue has undergone several revisions over the years. In 2002, the value was Rs 728 per sq.ft, which increased to Rs 785 per sq.ft in 2003, marking an 8% rise. The value then saw a substantial increase of 282% to Rs 3,000 per sq.ft in 2007. Following this, the value rose by 50% to Rs 4,500 per sq.ft in 2012. However, there was a decline of 33% to Rs 3,015 per sq.ft in 2017. The value increased significantly again by 49% to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 5,000 per sq.ft in 2024, which is an 11% increase from the previous year.

It is important to note that there are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Kottur

In Kottur village, there are 114 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with a median value of Rs 6,100 per sq.ft. Bharathi Avenue's current guideline value is below this median.

• Bharathi Avenue 1st Street: Rs 5,000 per sq.ft (2024)
• Bharathi Avenue 2nd Street: 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

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, charged at 7%, would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees to 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 details, you can use the stamp duty and registration fee calculator.

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 Kottur

The guideline value is a crucial factor in the registration process of property transactions in Kottur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during property transactions.

When a property is sold, the guideline value is used to calculate the 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 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 728 per sq.ft in 2002 to the current value of Rs 5,000 per sq.ft in 2024, reflecting various increases and decreases over the years.

What is the land classification of Bharathi Avenue?

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

What are the other streets in Kottur with their guideline values?

Other streets in Kottur include Bharathi Avenue 1st Street and Bharathi Avenue 2nd Street, both at Rs 5,000 per sq.ft, while Balaji Street is at Rs 6,100 per sq.ft, and Canal Bank Main Road, Canal Bank Road East, and Canal Bank Road Lane are all at Rs 6,600 per sq.ft.

Where can I find the Sub Registrar Office for Bharathi Avenue?

The Sub Registrar Office for Bharathi Avenue is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. This office handles property registrations for the area.