Guideline Value for BHARATHI NAGAR - Kanagasabai Street

BHARATHI NAGAR - Kanagasabai Street guideline value

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

The guideline value for BHARATHI NAGAR - Kanagasabai Street has seen several revisions over the years. In 2002, the guideline value was Rs 200 per sq.ft, which increased to Rs 220 per sq.ft in 2003. The value then rose significantly to Rs 500 per sq.ft in 2007, and by 2012, it had reached Rs 3,000 per sq.ft. However, it decreased to Rs 2,010 per sq.ft in 2017. The value saw a substantial increase to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a remarkable 500%, while the value decreased by 33% from 2012 to 2017. The increase from 2003 to 2007 was 127%, and from 2002 to 2003, it was 10%. Overall, from 2002 to 2024, the guideline value has increased by 1,550%.

Guideline values in Nesapakkam

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

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

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers BHARATHI NAGAR - Kanagasabai Street?

The Sub Registrar Office that covers BHARATHI NAGAR - Kanagasabai 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 when registering properties in Nesapakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings within the region.

Frequently asked questions

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

The current guideline value for BHARATHI NAGAR - Kanagasabai 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, from Rs 200 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1,550%.

What is the land classification for this street?

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

Where can I find the registration office for this area?

The registration office for BHARATHI NAGAR - Kanagasabai Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated on properties in this area?

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