Guideline Value for Bharathi Avenue

Bharathi Avenue guideline value

The current guideline value of Bharathi Avenue in Grandlyon village, under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Bharathi Avenue has changed

The guideline value for Bharathi Avenue has seen significant changes over the years. In 2003, the value was Rs 33 per sq.ft, which increased to Rs 200 per sq.ft in 2007. This marked a substantial rise of 506%. The value then doubled to Rs 400 per sq.ft in 2012, but subsequently dropped to Rs 268 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision set the value at Rs 400 per sq.ft, which then increased by 10% to Rs 440 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 1233%. Notably, there is no figure available for Bharathi Avenue in the 2002 revision.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO with 2024 guideline values ranging from Rs 440 to Rs 1,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, placing Bharathi Avenue's 2024 figure below the median.

• Bharathiar Street: Rs 660 per sq.ft (2024)
• Bharathi Nagar: Rs 660 per sq.ft (2024)
• Bharathi Nagar Extetion - 1: Rs 880 per sq.ft (2024)
• Bharathinagar Extn-II: Rs 440 per sq.ft (2024)
• Buela Street: Rs 660 per sq.ft (2024)
• Chavadi Medu: Rs 440 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 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bharathi Avenue?

The Sub Registrar Office that covers Bharathi Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in the real estate market. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bharathi Avenue?

The current guideline value of Bharathi Avenue is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 33 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 1233% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 4,40,000, with stamp duty at Rs 30,800 and registration fee at Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers Bharathi Avenue?

The Redhills Sub Registrar Office covers Bharathi Avenue, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Bharathi Avenue?

Bharathi Avenue is classified as Residential Class III Type - I, which indicates its designation for residential purposes within the area.