Guideline Value for BHARATHI NAGAR - Periyar Street

BHARATHI NAGAR - Periyar Street guideline value

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

The guideline value for BHARATHI NAGAR - Periyar Street has seen several revisions over the years. In 2002, the value was Rs 150 per sq.ft. It increased to Rs 165 per sq.ft in 2003, marking a 10% rise. The value then saw a significant increase to Rs 500 per sq.ft in 2007, which was a 203% jump. Following this, the value surged to Rs 3,000 per sq.ft in 2012, reflecting a 500% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in 2024, representing a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,100%. The register has no figure for the years not mentioned in the revisions.

Guideline values in Nesapakkam

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

• BHARATHI NAGAR - N.S.C. Bose Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Quaide millath Annexe: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Murugan Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Quaide millath Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Murugan Kovil Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Rajaji Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in BHARATHI NAGAR - Periyar 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, while the registration fee at 2% would be Rs 66,000. Together, the total fees would be 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.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers BHARATHI NAGAR - Periyar Street?

The Sub Registrar Office that covers BHARATHI NAGAR - Periyar 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 buying or selling property in Nesapakkam. It serves as the benchmark for determining the stamp duty and registration fees during the property transaction process. Buyers and sellers must be aware of the current guideline value to ensure they are compliant with the registration requirements.

When a property is registered, the guideline value is used to calculate the applicable fees. This value is essential for both buyers and sellers to understand, as it impacts the overall cost of the transaction and ensures that the property is valued appropriately for legal purposes.

Frequently asked questions

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

The current guideline value for BHARATHI NAGAR - Periyar 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 150 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 2,100% over the years.

What are the registration fees for property in BHARATHI NAGAR - Periyar Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles the registration for BHARATHI NAGAR - Periyar Street?

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

How does the guideline value affect property transactions?

The guideline value affects property transactions by determining the stamp duty and registration fees. It serves as a benchmark for valuing properties during the registration process, ensuring compliance with legal requirements.