Guideline Value for Bharathidasan Colony Main Road

Bharathidasan Colony Main Road guideline value

The current guideline value of Bharathidasan Colony Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, classified as Residential Class II Type - II.

How the guideline value of Bharathidasan Colony Main Road has changed

The guideline value for Bharathidasan Colony Main Road has seen several revisions over the years. The 2007 revision recorded a value of Rs 3,610 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012. However, this figure dropped to Rs 4,020 per sq.ft in 2017. From 2017 to 2023, the value increased significantly to Rs 6,000 per sq.ft, and in the most recent 2024 revision, it rose to Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

The changes between the revisions indicate a notable fluctuation in the guideline values. From 2007 to 2012, there was a 66% increase, followed by a decrease of 33% from 2012 to 2017. The period from 2017 to 2023 saw a substantial rise of 49%, leading to an overall increase of 83% from 2007 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Bharathidasan Colony Main Road's 2024 figure above this median.

• Bharathidasan Colony: Rs 6,600 per sq.ft (2024)
• Bharathidasan Road 1st Street: Rs 5,500 per sq.ft (2024)
• Bharathidasan Road 2nd Street: Rs 5,500 per sq.ft (2024)
• Bharathidasan Road 3rd Street: Rs 5,500 per sq.ft (2024)
• Bharathidasan Road 4th Street: Rs 5,500 per sq.ft (2024)
• Bharathidasan Road 5th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan Colony Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. It is important to 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 more details.

Which Sub Registrar Office covers Bharathidasan Colony Main Road?

The Bharathidasan Colony Main Road falls under the jurisdiction of 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

The guideline value is a critical factor during the registration of property transactions in Kodambakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, it is essential to refer to the latest guideline value to understand the financial implications of the transaction. Buyers should be aware that the guideline value may vary from the sale price, and the higher amount will be used for calculating the necessary duties and fees.

Frequently asked questions

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

The current guideline value of Bharathidasan Colony Main Road is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 3,610 per sq.ft in 2007 and reaching Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 83% from 2007 to 2024.

What is the land classification for Bharathidasan Colony Main Road?

Bharathidasan Colony Main Road is classified as Residential Class II Type - II, indicating its suitability for residential development.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is typically 7%, which is applied to the higher of the guideline value or the sale price of the property.

Where can I find the Sub Registrar Office for Bharathidasan Colony Main Road?

The Ashok Nagar Sub Registrar Office covers Bharathidasan Colony Main Road, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.