Guideline Value for BHARAT NAGAR

Bharat Nagar guideline value

The current guideline value of Bharat Nagar, located in Agaramthen village under the Tambaram Joint 1 SRO, is Rs 550 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under Residential Class I Type - III land classification.

How the guideline value of Bharat Nagar has changed

Historically, the guideline value for Bharat Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 550 per sq.ft, which is an increase from Rs 500 per sq.ft in the 2023 revision, marking a 10% rise. Prior to that, in 2017, the guideline value was Rs 335 per sq.ft, indicating a significant increase of 49% over the six years leading up to 2023. The overall change from 2017 to 2024 is a substantial 64% increase.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Thus, the only recorded values are from 2017, 2023, and the current 2024 revision.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value in this area is Rs 830 per sq.ft, placing Bharat Nagar's 2024 figure below this median.

• Bharathi Street: Rs 550 per sq.ft (2024)
• Bharathidasan Street: Rs 550 per sq.ft (2024)
• Brahmasakthi Nagar: Rs 550 per sq.ft (2024)
• Brahmasakthi Nagar Phase - II: Rs 550 per sq.ft (2024)
• Brahma Sakthi Nagar Phase III: Rs 550 per sq.ft (2024)
• Avvaiyar Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Bharat Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% is Rs 38,500, and the registration fee at 2% is Rs 11,000, resulting in a total of Rs 49,500 for these charges. 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 further calculations.

Which Sub Registrar Office covers Bharat Nagar?

The Bharat Nagar area is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Agaramthen. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property, ensuring that all transactions adhere to the legal requirements set by the Registration Department.

When buying or selling a property, the guideline value serves as a benchmark for the transaction value. Buyers and sellers must ensure that the sale price meets or exceeds the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bharat Nagar?

The current guideline value of Bharat Nagar is Rs 550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 335 per sq.ft in 2017 to Rs 550 per sq.ft in 2024, marking an overall increase of 64%.

What are the stamp duty and registration fees for property in Bharat Nagar?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office covers Bharat Nagar?

The Tambaram Joint 1 Sub Registrar Office covers Bharat Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Bharat Nagar?

Bharat Nagar falls under Residential Class I Type - III land classification as per the guidelines.