Guideline Value for Bishop Colony

Bishop Colony guideline value

The current guideline value of Bishop Colony, located in Venkatapuram village under the Adayar SRO, is Rs 8,300 per sq.ft as per the 2024 revision. This area is classified as Residential Class I Type - I.

How the guideline value of Bishop Colony has changed

The guideline value for Bishop Colony has seen significant changes over the years. In the 2003 revision, the value was Rs 1,100 per sq.ft, which increased to Rs 4,000 per sq.ft in 2007. This marked a substantial rise of 264%. The value then increased by 88% to Rs 7,500 per sq.ft in 2012. However, it decreased by 33% to Rs 5,025 per sq.ft in 2017. Following this, the value rose sharply by 49% to Rs 7,500 per sq.ft in 2023, and again increased by 11% to the current rate of Rs 8,300 per sq.ft effective from 1 July 2024. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 655%. This reflects the fluctuations in the property values over the years, highlighting the dynamic nature of real estate in this locality.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 15,400 per sq.ft, with a median value of Rs 5,500 per sq.ft. The guideline value of Bishop Colony is above this median.

• Bharathi Street: Rs 2,800 per sq.ft (2024)
• Central Avenue: Rs 5,500 per sq.ft (2024)
• Central Avenue Road: Rs 5,500 per sq.ft (2024)
• Chinnamalai: Rs 8,300 per sq.ft (2024)
• Church Colony: Rs 4,400 per sq.ft (2024)
• Arokkiyamada Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Bishop Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value amounts to Rs 83,00,000. The stamp duty at 7% would be Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total to Rs 7,47,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Bishop Colony?

The Sub Registrar Office that covers Bishop Colony is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Venkatapuram

The guideline value plays a crucial role in the registration process when buying or selling property in Venkatapuram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, it is essential to refer to the latest guideline value to ensure compliance with legal requirements. This value helps in assessing the financial obligations associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Bishop Colony?

The current guideline value of Bishop Colony is Rs 8,300 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,100 per sq.ft in 2003 to Rs 8,300 per sq.ft in 2024, marking an overall increase of 655%.

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

The total stamp duty for a property valued at Rs 83,00,000 would be Rs 5,81,000, and the registration fee would be Rs 1,66,000, totaling Rs 7,47,000.

Which Sub Registrar Office covers Bishop Colony?

The Adayar Sub Registrar Office at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20 covers Bishop Colony.

What is the median guideline value in Venkatapuram?

The median guideline value in Venkatapuram is Rs 5,500 per sq.ft, with Bishop Colony's value being above this median.