Guideline Value for Bharathi Avenue

Bharathi Avenue guideline value

The current guideline value of Bharathi Avenue in Perungalathur village, under the Padappai SRO, is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - II.

How the guideline value of Bharathi Avenue has changed

The guideline value of Bharathi Avenue has seen several revisions over the years. In the 2007 revision, the value was Rs 250 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in the 2012 revision, marking an increase of 980%. However, in the 2017 revision, the value decreased to Rs 1,809 per sq.ft, reflecting a drop of 33%. The value then rose to Rs 2,700 per sq.ft in the 2023 revision, and finally, the current value is Rs 2,970 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 1,088%. The changes between the revisions illustrate the fluctuations in value, with the most significant increase occurring between 2007 and 2012.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Bharathi Avenue's 2024 figure above this median.

• Bharathi Avenue Extension: Rs 4,290 per sq.ft (2024)
• Bharathidasan Street: Rs 2,640 per sq.ft (2024)
• Bharathidasan Street Extn: Rs 2,970 per sq.ft (2024)
• Bharathi Nagar: Rs 3,960 per sq.ft (2024)
• Berline Enclave Extension: Rs 2,310 per sq.ft (2024)
• Bharathi Nagar Extn: Rs 2,970 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 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total cost to Rs 2,67,300. The duty is charged on the higher of the guideline value or the sale price. You can use our 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 Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when buying or selling property in Perungalathur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the authorities will charge stamp duty based on the higher value between the guideline value and the sale price. Therefore, it is essential for buyers and sellers to understand the guideline value to accurately estimate the costs involved in the transaction.

Frequently asked questions

What is the current guideline value of Bharathi Avenue?

The current guideline value of Bharathi Avenue is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 1,088% over this period.

What is the land classification for Bharathi Avenue?

Bharathi Avenue is classified as Commercial Class I Type - II.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 29,70,000. The stamp duty is Rs 2,07,900, and the registration fee is Rs 59,400, totaling Rs 2,67,300.

Which office handles registrations for properties in Bharathi Avenue?

The Padappai Sub Registrar Office handles registrations for properties in Bharathi Avenue, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.