Guideline Value for Bharathiyar Colony (1st Avenue)

Bharathiyar Colony (1st Avenue) guideline value

The current guideline value of Bharathiyar Colony (1st Avenue) is Rs 11,000 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this street is Commercial Special Type - I.

How the guideline value of Bharathiyar Colony (1st Avenue) has changed

The guideline value for Bharathiyar Colony (1st Avenue) has seen several revisions over the years. Starting from Rs 4,220 per sq.ft in 2007, it increased to Rs 10,000 per sq.ft in 2012, then decreased to Rs 6,700 per sq.ft in 2017. The value rose significantly to Rs 10,000 per sq.ft in 2023 and further increased to the current rate of Rs 11,000 per sq.ft in 2024.

Between these revisions, the changes were notable. From 2007 to 2012, the value increased by 137%, but then it dropped by 33% from 2012 to 2017. The value surged by 49% from 2017 to 2023, and finally, a 10% increase was observed from 2023 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 guideline value for these streets is Rs 4,900 per sq.ft, indicating that Bharathiyar Colony (1st Avenue) is above this median.

• Bharathiyar 8th St (Kanu Nagar) NP: Rs 2,200 per sq.ft (2024)
• Bharathi Street (W.M): Rs 5,500 per sq.ft (2024)
• Bharathi Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Bharathi Street (JPT) Pari Nagar: Rs 4,400 per sq.ft (2024)
• Bharathipuram: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar (NP): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Colony (1st Avenue)

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, totaling Rs 9,90,000. 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 Bharathiyar Colony (1st Avenue)?

The Sub Registrar Office that covers Bharathiyar Colony (1st Avenue) is 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 crucial factor when buying or selling property in Kodambakkam, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, reflecting the current market conditions. Buyers and sellers must be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bharathiyar Colony (1st Avenue)?

The current guideline value of Bharathiyar Colony (1st Avenue) is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,220 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, with several revisions in between. The most significant increase occurred from 2007 to 2012 and again from 2017 to 2023.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Bharathiyar Colony (1st Avenue) being above this median at Rs 11,000 per sq.ft.

What are the registration fees for property in Bharathiyar Colony (1st Avenue)?

The registration fees include a stamp duty of 7% and a registration fee of 2%, calculated based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bharathiyar Colony (1st Avenue)?

The Ashok Nagar Sub Registrar Office covers Bharathiyar Colony (1st Avenue) and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.