Guideline Value for BARATHI NAGAR

Barathi Nagar guideline value

The current guideline value of Barathi Nagar, located in Mulli village under the Madurandakam SRO, is Rs 101 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Barathi Nagar has changed

The guideline value for Barathi Nagar has seen several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 100 per sq.ft. This was followed by a decrease to Rs 67 per sq.ft in 2017, and then an increase to Rs 100 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 101 per sq.ft, marking a 1% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, while from 2017 to 2023, it increased significantly by 49%. Overall, from 2012 to 2024, there has been a slight increase of 1%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mulli

In Mulli village, there are five streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 500 per sq.ft. Barathi Nagar's 2024 figure of Rs 101 per sq.ft is equal to the median value for these streets.

• Evs Nagar Phase-I: Rs 101 per sq.ft (2024)
• Sai Parvathi Avenue: Rs 101 per sq.ft (2024)
• Sripuram Avenue: Rs 100 per sq.ft (2024)
• Bharathi Nagar Extention: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Barathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty, charged at 7%, would amount to Rs 7,070, and the registration fee, charged at 2%, would be Rs 2,020. Together, the total cost for stamp duty and registration would be Rs 9,090. Duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Barathi Nagar?

The Sub Registrar Office that covers Barathi Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mulli. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized valuation rather than fluctuating market prices.

When a property is registered, the guideline value is assessed to determine the applicable duties, which are then charged on the higher of the guideline value or the sale price. This ensures that the registration process is transparent and fair, reflecting the official valuation of the property.

Frequently asked questions

What is the current guideline value of Barathi Nagar?

The current guideline value of Barathi Nagar is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then to Rs 100 per sq.ft in 2023, and finally to Rs 101 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 1%.

What are the guideline values of other streets in Mulli?

Other streets in Mulli have varying guideline values. For instance, Evs Nagar Phase-I and Sai Parvathi Avenue both have a guideline value of Rs 101 per sq.ft, while Sripuram Avenue is at Rs 100 per sq.ft, and Bharathi Nagar Extention is at Rs 500 per sq.ft.

How is stamp duty calculated in Barathi Nagar?

Stamp duty in Barathi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000, resulting in a stamp duty of Rs 7,070.

Where can I find the Sub Registrar Office for Barathi Nagar?

The Sub Registrar Office covering Barathi Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO online for more information.