Guideline Value for Bharathidasan Road 3rd Street

Bharathidasan Road 3rd Street guideline value

The current guideline value of Bharathidasan Road 3rd Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and falls under the Residential Class III Type - I land classification.

How the guideline value of Bharathidasan Road 3rd Street has changed

The guideline value for Bharathidasan Road 3rd Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which set the value at Rs 1,460 per sq.ft. This value increased significantly to Rs 5,000 per sq.ft in 2012, marking a 242% rise. However, it then decreased to Rs 3,350 per sq.ft in 2017, reflecting a 33% drop. The value saw a substantial increase to Rs 5,000 per sq.ft in the 2023 revision, which was a 49% rise from the previous figure. The current 2024 revision has further increased the guideline value to Rs 5,500 per sq.ft, a 10% increase from 2023.

It is important to note that the register has no figures for Bharathidasan Road 3rd Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 277%.

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 for these streets is Rs 4,900 per sq.ft, placing Bharathidasan Road 3rd Street above this median at Rs 5,500 per sq.ft.

• Bharathidasan Road 1st Street: Rs 5,500 per sq.ft (2024)
• Bharathidasan Road 2nd 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)
• Bharathidasan Road 6th Street: Rs 5,500 per sq.ft (2024)
• Bharathidasan Road 7th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan Road 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total of Rs 4,95,000 for these fees. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathidasan Road 3rd Street?

The Bharathidasan Road 3rd Street falls under 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 plays a crucial role in the registration process when buying or selling property in Kodambakkam. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is documented at a fair value, which is important for both buyers and sellers. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Bharathidasan Road 3rd Street?

The current guideline value of Bharathidasan Road 3rd Street 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 other streets in Kodambakkam with the same guideline value?

Other streets in Kodambakkam, such as Bharathidasan Road 1st, 2nd, 4th, 5th, 6th, and 7th Streets, also have a guideline value of Rs 5,500 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

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.

Where is the Sub Registrar Office for Bharathidasan Road 3rd Street?

The Ashok Nagar Sub Registrar Office, which covers Bharathidasan Road 3rd Street, is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.