Guideline Value for Bharathi Colony 1st Cross Street

Bharathi Colony 1st Cross Street guideline value

The current guideline value for Bharathi Colony 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - II.

How the guideline value of Bharathi Colony 1st Cross Street has changed

The guideline value for Bharathi Colony 1st Cross Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, reflecting a decline of 33%. However, the most recent 2024 revision has seen a significant increase, bringing the guideline value back up to Rs 3,300 per sq.ft, which is a 64% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, making the current value for Bharathi Colony 1st Cross Street below that median.

• Bharathi Colony: Rs 3,300 per sq.ft (2024)
• Bharathi Colony 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Bharathi Colony Extn. Salai: Rs 3,300 per sq.ft (2024)
• Bharathi Colony Main Road: Rs 3,300 per sq.ft (2024)
• Bharathidasan 1st Street: Rs 3,300 per sq.ft (2024)
• Bharathidasan 2nd Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Colony 1st Cross Street?

The Bharathi Colony 1st Cross Street falls under the Virugambakkam Sub Registrar Office located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum price at which a property can be sold and is used to calculate the stamp duty and registration fees during the registration process.

When a property is registered, the guideline value is compared with the actual sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Bharathi Colony 1st Cross Street?

The current guideline value of Bharathi Colony 1st Cross Street 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,300 per sq.ft in 2024.

What is the land classification for Bharathi Colony 1st Cross Street?

Bharathi Colony 1st Cross Street is classified as Residential Class II Type - II.

How does the guideline value compare to other streets in Valasaravakkam?

The guideline value for Bharathi Colony 1st Cross Street is Rs 3,300 per sq.ft, which is below the median value of Rs 3,850 per sq.ft for other streets in Valasaravakkam.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.