Guideline Value for BHARATHI NAGAR - Jayalalitha Street

BHARATHI NAGAR - Jayalalitha Street guideline value

The current guideline value for BHARATHI NAGAR - Jayalalitha Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village and falls under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of BHARATHI NAGAR - Jayalalitha Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure then decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nesapakkam

Nesapakkam has 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the 2024 figure for BHARATHI NAGAR - Jayalalitha Street.

• BHARATHI NAGAR - Kalaigner Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Kamarajar Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Kanagasabai Cross Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Kanagasabai Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Gandhi Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR Main Road: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in BHARATHI NAGAR - Jayalalitha Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers BHARATHI NAGAR - Jayalalitha Street?

The Sub Registrar Office that covers BHARATHI NAGAR - Jayalalitha Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Nesapakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives due revenue from property transactions.

When buying or selling property, it is essential to consider the guideline value as it can affect the overall cost of the transaction. Buyers should be aware that the final costs may vary based on the guideline value and the sale price, as the higher amount will be used for calculating duties.

Frequently asked questions

What is the current guideline value for BHARATHI NAGAR - Jayalalitha Street?

The current guideline value for BHARATHI NAGAR - Jayalalitha Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent increase from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. The value was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for this street?

BHARATHI NAGAR - Jayalalitha Street is classified as Residential Class II Type - I.

Which office handles registrations for this area?

The Virugambakkam Sub Registrar Office handles registrations for BHARATHI NAGAR - Jayalalitha Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.