Guideline Value for Bharathiar Street, Chennai 82 (Venkatesa Nagar)

Bharathiar Street, Chennai 82 (Venkatesa Nagar) guideline value

The current guideline value of Bharathiar Street, Chennai 82 (Venkatesa Nagar) is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Residential Class I Type - III.

How the guideline value of Bharathiar Street, Chennai 82 (Venkatesa Nagar) has changed

The guideline value for Bharathiar Street has seen several revisions over the years. In 2007, the value was set at Rs 1,200 per sq.ft. This increased significantly to Rs 4,500 per sq.ft in 2012, marking a 275% rise. However, between 2012 and 2017, the value decreased to Rs 3,015 per sq.ft, a drop of 33%. The next revision in 2023 saw an increase to Rs 4,500 per sq.ft, followed by the current value of Rs 4,900 per sq.ft in 2024, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 308%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram village features a total of 369 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which aligns with the current guideline value of Bharathiar Street.

• Besant Road, Chennai 82: Rs 4,400 per sq.ft (2024)
• Bharathi Nagar Cross Street: Rs 4,900 per sq.ft (2024)
• Bharathi Nagar Main Road: Rs 4,900 per sq.ft (2024)
• Boopathy Nagar: Rs 4,400 per sq.ft (2024)
• Butmedu (G.K.M. Colony) Chennai 82: Rs 2,700 per sq.ft (2024)
• Chakravarthy Colony: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiar Street, Chennai 82 (Venkatesa Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value is Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiar Street, Chennai 82 (Venkatesa Nagar)?

The Sub Registrar Office that covers Bharathiar Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property registration in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buyers and sellers engage in a transaction, the guideline value is used to calculate the applicable fees. This value is essential for both parties to understand, as it influences the overall costs associated with the property transfer process.

Frequently asked questions

What is the current guideline value of Bharathiar Street?

The current guideline value of Bharathiar Street, Chennai 82 (Venkatesa Nagar) is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,200 per sq.ft to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 308%.

What are the stamp duty and registration fees for properties on Bharathiar Street?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office covers this area?

The AnnaNagar Sub Registrar Office covers Bharathiar Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Bharathiar Street?

Bharathiar Street is classified as Residential Class I Type - III, indicating its designation for residential use.