Guideline Value for BHARANI NAGAR EXT-II

Bharani Nagar Ext-II guideline value

The current guideline value of Bharani Nagar Ext-II is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Pazhayaseevaram -A village, under the Walajabad SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bharani Nagar Ext-II has changed

Over the years, the guideline value of Bharani Nagar Ext-II has seen several revisions. The most recent revision in 2024 maintains the value at Rs 250 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 167 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, there was a 50% increase in the guideline value, and from 2017 to 2024, the overall increase remains at 50%. The 2024 revision shows no change from the previous year, indicating stability in the current guideline value.

Guideline values in Pazhayaseevaram -A

In Pazhayaseevaram -A, there are 26 streets under the Walajabad SRO with a 2024 guideline value ranging from Rs 200 to Rs 500 per sq.ft, with a median value of Rs 350 per sq.ft. Bharani Nagar Ext-II's guideline value is below this median.

• Harshika Avenue: Rs 250 per sq.ft (2024)
• Ishvariya Nagar Phase-III: Rs 200 per sq.ft (2024)
• Ishwariya Nagar phase-I: Rs 200 per sq.ft (2024)
• Ishwariya Nagar phase-II: Rs 200 per sq.ft (2024)
• Ishwariya Nagar Phase-IV: Rs 200 per sq.ft (2024)
• Ishwariya Nagar Phase-V: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharani Nagar Ext-II

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharani Nagar Ext-II?

The Sub Registrar Office that covers Bharani Nagar Ext-II is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Pazhayaseevaram -A

The guideline value is a crucial factor in property transactions in Pazhayaseevaram -A. It serves as the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is documented accurately and that the applicable taxes are paid based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Bharani Nagar Ext-II?

The current guideline value of Bharani Nagar Ext-II is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft since 2023 and has increased from Rs 167 per sq.ft in 2017, marking a 50% increase over that period.

What is the land classification of Bharani Nagar Ext-II?

Bharani Nagar Ext-II is classified as Residential Class II Type - I, which indicates its suitability for residential development.

What are the stamp duty rates for property transactions?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2% applicable on the same basis.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more information about your SRO online.