Guideline Value for Bharathi Colony

Bharathi Colony guideline value

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

How the guideline value of Bharathi Colony has changed

The guideline value for Bharathi Colony has seen several revisions over the years. In 2007, the guideline value was set at Rs 650 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 362%. This figure remained unchanged until 2023, when it was again set at Rs 3,000 per sq.ft. The most recent revision in 2024 has increased the guideline value to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 408%.

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 is Rs 3,850 per sq.ft, placing Bharathi Colony's 2024 figure below that median.

• Bharathi Colony 1st Cross Street: 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

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 be 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 and the sale price.

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

Which Sub Registrar Office covers Bharathi Colony?

The Sub Registrar Office that covers Bharathi Colony 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 plays a crucial role in property transactions in Valasaravakkam. It serves as a reference point for calculating the stamp duty and registration fees during the sale or purchase of a property. Buyers and sellers must be aware that the guideline value is used to determine the official value of the property for registration purposes.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is important 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 Colony?

The current guideline value of Bharathi Colony 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 650 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 408% over the years.

What is the registration office for Bharathi Colony?

The registration office for Bharathi Colony is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What are the stamp duty rates for properties in Bharathi Colony?

The stamp duty for properties in Bharathi Colony is charged at 7% of the guideline value or sale price, whichever is higher. Additional registration fees are charged at 2% of the guideline value.

Where can I find more information about guideline values?

You can find more information about guideline values and related calculations on the Tamil Nadu Registration Department's website or by using the stamp duty and registration fee calculator.