Guideline Value for Bharathi Nagar Krishnamurthy Street

Bharathi Nagar Krishnamurthy Street guideline value

The current guideline value of Bharathi Nagar Krishnamurthy Street is Rs 6,100 per sq.ft, effective from 1 July 2024. This street is located in Adayar village and falls under the Adayar SRO, classified as Residential Class II Type - I.

How the guideline value of Bharathi Nagar Krishnamurthy Street has changed

The guideline value for Bharathi Nagar Krishnamurthy Street has seen several revisions over the years. The earliest available figure is from the 2007 revision, which set the value at Rs 2,200 per sq.ft. This increased to Rs 5,500 per sq.ft in the 2012 revision, marking a significant rise of 150%. However, the value dropped to Rs 3,685 per sq.ft in the 2017 revision, a decrease of 33%. The 2023 revision saw another increase, bringing the value to Rs 5,500 per sq.ft, and the most recent revision in 2024 raised it further to Rs 6,100 per sq.ft, an increase of 11%.

In summary, the guideline value has increased from Rs 2,200 per sq.ft in 2007 to Rs 6,100 per sq.ft in 2024, representing an overall increase of 177%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Adayar

Adayar village has 92 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median value across these streets is Rs 6,100 per sq.ft, which is equal to the guideline value of Bharathi Nagar Krishnamurthy Street.

• Bharathi Nagar Main Road: Rs 6,100 per sq.ft (2024)
• Bharathi Nagar Nethaji Street: Rs 6,100 per sq.ft (2024)
• Bharathi Nagar Tank Square Street: Rs 6,100 per sq.ft (2024)
• Balaram Road: Rs 6,100 per sq.ft (2024)
• Chitra Nagar: Rs 5,500 per sq.ft (2024)
• Circular Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Krishnamurthy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value would be Rs 61,00,000. The stamp duty at 7% would amount to Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, bringing the total to Rs 5,49,000. Please 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 precise calculations.

Which Sub Registrar Office covers Bharathi Nagar Krishnamurthy Street?

The Bharathi Nagar Krishnamurthy Street falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Adayar. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value, as it affects the stamp duty and registration fees applicable during the sale.

When purchasing property, the guideline value ensures that transactions are conducted fairly and transparently, helping to prevent undervaluation. It is essential for both parties to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Krishnamurthy Street?

The current guideline value of Bharathi Nagar Krishnamurthy Street is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2007 to Rs 6,100 per sq.ft in 2024, with several revisions in between, including increases and a decrease from 2012 to 2017.

What is the land classification for Bharathi Nagar Krishnamurthy Street?

Bharathi Nagar Krishnamurthy Street is classified as Residential Class II Type - I.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How are stamp duty and registration fees calculated in Adayar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 61,00,000, the total stamp duty and registration fees would be Rs 5,49,000.