Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Nanthiambakkam village under the Thiruvottiyur SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Bharathi Nagar has changed

Since 2002, the guideline value for Bharathi Nagar has seen significant changes. The value started at Rs 27 per sq.ft in 2002, increased to Rs 31 per sq.ft in 2003, and then rose by 61% to Rs 50 per sq.ft in 2007. Following this, there was a substantial increase of 500%, bringing the value to Rs 300 per sq.ft in 2012. However, it then decreased by 33% to Rs 201 per sq.ft in 2017. The value then increased by 49% to Rs 300 per sq.ft in 2023, before reaching the current rate of Rs 330 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1122%. There are no figures available for the years not listed in the register for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median value is Rs 330 per sq.ft, making Bharathi Nagar's 2024 figure equal to that median.

• B. Venkatraman Nagar: Rs 330 per sq.ft (2024)
• Balamurugan Nagar /Avenue: Rs 330 per sq.ft (2024)
• Balaji Nagar: Rs 330 per sq.ft (2024)
• Athilakshmi Nagar: Rs 330 per sq.ft (2024)
• Devi Nagar: Rs 330 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, making the total amount payable Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar?

The Thiruvottiyur Sub Registrar Office covers Bharathi Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor when registering property transactions in Bharathi Nagar. It serves as the basis for calculating the stamp duty and registration fees that are required during the transfer of property ownership.

When a property is bought or sold, the guideline value helps in determining the official value of the property for registration purposes. This ensures that the transaction is recorded accurately in the government records, reflecting the value of the property as per the latest revisions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 27 per sq.ft in 2002 to Rs 330 per sq.ft in 2024, reflecting an increase of 1122% over this period.

What is the land classification for Bharathi Nagar?

Bharathi Nagar is classified as Residential Special Type - II, which influences its guideline value and potential uses.

What are the stamp duty rates for property in Bharathi Nagar?

The stamp duty for property transactions in Bharathi Nagar is currently set at 7% of the guideline value, while the registration fee is 2%.

Where is the Sub Registrar Office for Bharathi Nagar located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.