Guideline Value for BHARATHI NAGAR - Quaide millath Street

BHARATHI NAGAR - Quaide millath Street guideline value

The current guideline value for BHARATHI NAGAR - Quaide millath 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, classified as Residential Class II Type - I.

How the guideline value of BHARATHI NAGAR - Quaide millath Street has changed

The guideline value for BHARATHI NAGAR - Quaide millath Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then further rose to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nesapakkam

Nesapakkam has 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 the same as the current value for BHARATHI NAGAR - Quaide millath Street.

• BHARATHI NAGAR - Quaide millath Annexe: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Rajaji Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Ramadass 1st Cross Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Ramadass 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Periyar Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Ramadass Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in BHARATHI NAGAR - Quaide millath 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 guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers BHARATHI NAGAR - Quaide millath Street?

The Sub Registrar Office that covers BHARATHI NAGAR - Quaide millath Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected by the government. Buyers and sellers should always refer to the latest guideline value to understand their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value for BHARATHI NAGAR - Quaide millath 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 increased 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 street?

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

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is 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 property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.