Guideline Value for Bharathi Colony Main Road

Bharathi Colony Main Road guideline value

The current guideline value of Bharathi Colony Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Bharathi Colony Main Road has changed

The guideline value for Bharathi Colony Main Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, the latest revision in 2024 increased the value to Rs 3,300 per sq.ft, marking a significant increase of 64% from the 2017 figure. Overall, from 2012 to 2024, there has been a slight increase of 10%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street. The changes between the revisions highlight the fluctuations in the guideline value over time, reflecting the adjustments made by the Registration Department.

Guideline values in Valasaravakkam

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

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

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 cost to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Colony Main Road?

The Bharathi Colony Main Road falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Valasaravakkam. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with the regulations set by the Registration Department.

When a property is bought or sold, the guideline value is assessed to calculate the necessary fees. This ensures that the transaction is recorded accurately and reflects the official valuation of the property in question.

Frequently asked questions

What is the current guideline value of Bharathi Colony Main Road?

The current guideline value of Bharathi Colony Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bharathi Colony Main Road 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 Main Road?

Bharathi Colony Main Road is classified as Residential Class II Type - II.

What is the median guideline value in Valasaravakkam?

The median guideline value for streets in Valasaravakkam is Rs 3,850 per sq.ft, with Bharathi Colony Main Road's value being below this median.

Where can I find the Virugambakkam Sub Registrar Office?

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