Guideline Value for Bharathidasan Colony

Bharathidasan Colony guideline value

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

How the guideline value of Bharathidasan Colony has changed

The guideline value for Bharathidasan Colony has undergone several revisions over the years. In 2007, the guideline value was Rs 3,610 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012. This was followed by a decrease to Rs 4,020 per sq.ft in 2017, and then a significant rise to Rs 6,000 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 83%. It is important to note that there are no figures available for the revisions in 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 guideline value in this area is Rs 4,900 per sq.ft, and Bharathidasan Colony's 2024 figure of Rs 6,600 per sq.ft is above this median.

• Bharathidasan Colony Main Road: 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

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

The Sub Registrar Office that covers Bharathidasan Colony is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By 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 in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the registration fees and stamp duty are calculated based on this guideline value.

When purchasing property, it is essential to ensure that the transaction value meets or exceeds the guideline value to avoid any complications during the registration process. This ensures compliance with local regulations and helps facilitate a smooth transfer of ownership.

Frequently asked questions

What is the current guideline value of Bharathidasan Colony?

The current guideline value of Bharathidasan Colony is Rs 6,600 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 3,610 per sq.ft to Rs 6,600 per sq.ft in 2024, marking an overall increase of 83% over the years.

What is the land classification of Bharathidasan Colony?

Bharathidasan Colony is classified as Residential Class II Type - II, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property in Bharathidasan Colony?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur total fees of Rs 5,94,000.

Which Sub Registrar Office covers Bharathidasan Colony?

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