Guideline Value for Bharathi Street (W.M)

Bharathi Street (W.M) guideline value

The current guideline value of Bharathi Street (W.M) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Bharathi Street (W.M) has changed

Over the years, the guideline value of Bharathi Street (W.M) has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,460 per sq.ft, which increased dramatically to Rs 5,000 per sq.ft in 2012, marking a rise of 242%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 has set the value at Rs 5,500 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 277%.

Guideline values in Kodambakkam

The guideline values for various streets in Kodambakkam range from Rs 2,200 to Rs 11,000 per sq.ft as per the 2024 revision, with a median value of Rs 4,900 per sq.ft. Bharathi Street (W.M) has a guideline value above this median, reflecting its standing in the locality.

• Bharathi Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Bharathi Street (JPT) Pari Nagar: Rs 4,400 per sq.ft (2024)
• Bharathiyar 8th St (Kanu Nagar) NP: Rs 2,200 per sq.ft (2024)
• Bharathiyar Colony (1st Avenue): Rs 11,000 per sq.ft (2024)
• Bharathipuram: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar (NP): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Street (W.M)

For a property measuring 1,000 sq.ft at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It's important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Street (W.M)?

The Sub Registrar Office that covers Bharathi Street (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

When buying or selling property in Kodambakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees applicable to the transaction. The guideline value is established by the Registration Department and serves as a reference point for property transactions, ensuring that the fees are calculated based on a standardized value.

It is essential for buyers and sellers to be aware of the guideline value, as it impacts the overall cost of the transaction. The guideline value can vary significantly between different streets and areas, which may influence decisions regarding property purchases or sales.

Frequently asked questions

What is the current guideline value of Bharathi Street (W.M)?

The current guideline value of Bharathi Street (W.M) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,460 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 277% over the years.

What are the stamp duty and registration fees for properties in Bharathi Street (W.M)?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Bharathi Street (W.M)?

The Ashok Nagar Sub Registrar Office covers Bharathi Street (W.M), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Bharathi Street (W.M)?

The land classification for Bharathi Street (W.M) is Residential Class III Type - I, indicating its suitability for residential development.