Guideline Value for BHARATHI NAGAR - Kalaigner Street

BHARATHI NAGAR - Kalaigner Street guideline value

The current guideline value of BHARATHI NAGAR - Kalaigner Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

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

The guideline value for BHARATHI NAGAR - Kalaigner Street has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017, marking a 33% decrease. The value then rose to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 560%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nesapakkam

Nesapakkam has a total of 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 current value for BHARATHI NAGAR - Kalaigner Street.

• BHARATHI NAGAR - Jayalalitha 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 - Kalaigner Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers BHARATHI NAGAR - Kalaigner Street?

The Sub Registrar Office that covers BHARATHI NAGAR - Kalaigner 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nesapakkam. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

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

The current guideline value for BHARATHI NAGAR - Kalaigner 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 changed from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 560% over the years.

What is the land classification for BHARATHI NAGAR - Kalaigner Street?

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

Which office handles registrations for properties in BHARATHI NAGAR - Kalaigner Street?

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

What is the stamp duty rate applicable to properties in this area?

The stamp duty rate applicable to properties in BHARATHI NAGAR - Kalaigner Street is 7% of the guideline value or the sale price, whichever is higher.