Guideline Value for BHARATH NAGAR (MEDAVAKKAM ROAD)

Bharath Nagar (Medavakkam Road) guideline value

The current guideline value for Bharath Nagar (Medavakkam Road) is Rs 4,400 per sq.ft, effective from 1 July 2024. This property is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Special Type - V.

How the guideline value of Bharath Nagar (Medavakkam Road) has changed

The guideline value for Bharath Nagar (Medavakkam Road) has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 4,000 per sq.ft. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

Prior to the 2023 revision, there was no recorded guideline value for Bharath Nagar (Medavakkam Road) in the aforementioned years. The increase from 2023 to 2024 reflects the current valuation adjustments made by the authorities.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Bharath Nagar (Medavakkam Road) above this median.

• Bharath Nagar Annexe.: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Annexe 4th Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Annexe 3rd Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Annexe 2nd Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Annexe 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharath Nagar (Medavakkam Road)

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharath Nagar (Medavakkam Road)?

The Sub Registrar Office that covers Bharath Nagar (Medavakkam Road) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a critical factor in the registration process of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

Frequently asked questions

What is the current guideline value for Bharath Nagar (Medavakkam Road)?

The current guideline value for Bharath Nagar (Medavakkam Road) is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2023 to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

What is the land classification for Bharath Nagar (Medavakkam Road)?

Bharath Nagar (Medavakkam Road) is classified as Residential Special Type - V under the Neelankarai SRO.

What are the stamp duty and registration fees based on the guideline value?

For a property valued at Rs 44,00,000, the stamp duty is Rs 3,08,000 and the registration fee is Rs 88,000, totaling Rs 3,96,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.