Guideline Value for BHARATHI NAGAR - Kanagasabai Cross Street

BHARATHI NAGAR - Kanagasabai Cross Street guideline value

The current guideline value for BHARATHI NAGAR - Kanagasabai Cross 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 - Kanagasabai Cross Street has changed

Over the years, the guideline value for BHARATHI NAGAR - Kanagasabai Cross Street has seen several revisions. The earliest revision available is from 2012, where the value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then increased significantly to Rs 3,000 per sq.ft in 2023, and finally, it rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nesapakkam

Nesapakkam village has a range of guideline values across its 148 streets under the Virugambakkam SRO, with figures varying from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, which is the same as the current value for BHARATHI NAGAR - Kanagasabai Cross Street.

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

Stamp duty and registration fee for property in BHARATHI NAGAR - Kanagasabai Cross 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 cost 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 on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHARATHI NAGAR - Kanagasabai Cross Street?

The Sub Registrar Office that covers BHARATHI NAGAR - Kanagasabai Cross 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 is a crucial factor during property transactions in Nesapakkam, as it serves as the minimum value for registration purposes. Buyers and sellers must consider this value when determining the sale price, as the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to be aware of the guideline value to ensure compliance with local regulations. This value helps in assessing the appropriate fees that need to be paid during the registration process.

Frequently asked questions

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

The current guideline value for BHARATHI NAGAR - Kanagasabai Cross 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for this area?

The land classification for BHARATHI NAGAR - Kanagasabai Cross Street is Residential Class II Type - I.

Where can I find the registration office for this street?

The registration office for BHARATHI NAGAR - Kanagasabai Cross Street is the Virugambakkam Sub Registrar Office, 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 at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 2,31,000 based on the guideline value.