Guideline Value for Bharathidasan Road 7th Street

Bharathidasan Road 7th Street guideline value

The current guideline value of Bharathidasan Road 7th 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 is classified as Residential Class III Type - I.

How the guideline value of Bharathidasan Road 7th Street has changed

The guideline value for Bharathidasan Road 7th Street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 5,000 per sq.ft. This was followed by a decrease to Rs 3,350 per sq.ft in 2017. The 2023 revision saw an increase to Rs 5,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the value rose by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 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 for these streets is Rs 4,900 per sq.ft, making the 2024 guideline value of Bharathidasan Road 7th Street above the median.

• 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)
• Bharathidasan Road 6th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan Road 7th Street

For a 1,000 sq.ft plot 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, charged at 7%, would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, the total cost for these fees would be Rs 4,95,000. 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 Bharathidasan Road 7th Street?

The Bharathidasan Road 7th 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 of property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the necessary fees based on the property's value. This ensures that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bharathidasan Road 7th Street?

The current guideline value of Bharathidasan Road 7th 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 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification of Bharathidasan Road 7th Street?

Bharathidasan Road 7th Street is classified as Residential Class III Type - I.

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.

Which Sub Registrar Office covers Bharathidasan Road 7th Street?

The Ashok Nagar Sub Registrar Office covers Bharathidasan Road 7th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.