Guideline Value for Bharathi Avenue

Bharathi Avenue guideline value

The current guideline value of Bharathi Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Koyakbedu village, under the AnnaNagar SRO, and is classified as Residential Class I Type - III.

How the guideline value of Bharathi Avenue has changed

The guideline value for Bharathi Avenue has seen several revisions over the years. In the 2007 revision, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 173%. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year. Notably, there are no figures available for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 200%. The changes between the revisions indicate fluctuations in the guideline value, with the most significant increase occurring between 2007 and 2012, followed by a steady rise in subsequent years.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Bharathi Avenue's 2024 figure below this median.

• Bharathi Street: Rs 3,300 per sq.ft (2024)
• Bazaar Street: Rs 3,300 per sq.ft (2024)
• Brindavan Colony: Rs 4,400 per sq.ft (2024)
• Brindavan Nagar: Rs 4,400 per sq.ft (2024)
• Canal Feet Road (Mangammal Nagar, Srinivasa Nagar): Rs 3,300 per sq.ft (2024)
• Balaji Nagar 2nd Street: Rs 3,300 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 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 fees to Rs 2,97,000. 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 AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Koyakbedu, as it determines the minimum value at which a property can be registered. Buyers must pay stamp duty and registration fees based on this guideline value, ensuring that the transaction is recorded accurately in the official register.

When selling a property, the guideline value serves as a benchmark for both buyers and sellers. It helps in assessing the fair price of the property during negotiations and ensures compliance with local regulations regarding property registration.

Frequently asked questions

What is the current guideline value of Bharathi Avenue?

The current guideline value of Bharathi Avenue 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 1,100 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 200% over this period.

What are the other streets in Koyakbedu with similar guideline values?

Other streets in Koyakbedu with a guideline value of Rs 3,300 per sq.ft include Bharathi Street, Bazaar Street, Canal Feet Road (Mangammal Nagar, Srinivasa Nagar), and Balaji Nagar 2nd Street.

What fees are associated with buying property in Bharathi Avenue?

When buying property in Bharathi Avenue, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office should I visit for transactions in Bharathi Avenue?

The AnnaNagar Sub Registrar Office covers transactions in Bharathi Avenue, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.