Guideline Value for Bharathi Colony Extn. Salai

Bharathi Colony Extn. Salai guideline value

The current guideline value of Bharathi Colony Extn. Salai is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Bharathi Colony Extn. Salai has changed

The guideline value for Bharathi Colony Extn. Salai has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. The most recent revision in 2024 has increased the guideline value to Rs 3,300 per sq.ft.

Between the 2017 and 2024 revisions, there was a significant increase of 64%. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, placing Bharathi Colony Extn. Salai's 2024 figure below that median.

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

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 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 Colony Extn. Salai?

The Sub Registrar Office that covers Bharathi Colony Extn. Salai is 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 in the registration process when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value helps ensure transparency and consistency in the valuation process. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration of property.

Frequently asked questions

What is the current guideline value of Bharathi Colony Extn. Salai?

The current guideline value of Bharathi Colony Extn. Salai 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. There are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

What is the land classification for Bharathi Colony Extn. Salai?

The land classification for Bharathi Colony Extn. Salai is Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Bharathi Colony Extn. Salai?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which Sub Registrar Office covers this area?

The Virugambakkam Sub Registrar Office covers Bharathi Colony Extn. Salai, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.