Guideline Value for BHARATHI NAGAR - Kamarajar Street

BHARATHI NAGAR - Kamarajar Street guideline value

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

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

The guideline value for BHARATHI NAGAR - Kamarajar Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 500 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 500% rise. However, by 2017, the value dropped to Rs 2,010 per sq.ft, which was a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

In summary, from 2007 to 2024, the overall increase in the guideline value is 560%. The revisions for 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Nesapakkam

In Nesapakkam, there are 148 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median value across these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of BHARATHI NAGAR - Kamarajar Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to 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, 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 information on calculating stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHARATHI NAGAR - Kamarajar Street?

The Sub Registrar Office that covers BHARATHI NAGAR - Kamarajar 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 further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Nesapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it affects the financial obligations of both the buyer and the seller. Buyers should ensure that the sale price is not below the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of BHARATHI NAGAR - Kamarajar Street?

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

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

BHARATHI NAGAR - Kamarajar Street falls under the Residential Class II Type - I land classification.

What is the stamp duty for property in BHARATHI NAGAR - Kamarajar Street?

The stamp duty for property transactions in BHARATHI NAGAR - Kamarajar Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Which office handles registrations for BHARATHI NAGAR - Kamarajar Street?

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