Guideline Value for BHARATHI NAGAR - Ramadass 2nd Cross Street

BHARATHI NAGAR - Ramadass 2nd Cross Street guideline value

The current guideline value for BHARATHI NAGAR - Ramadass 2nd Cross 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 falls under the Residential Class II Type - I land classification.

How the guideline value of BHARATHI NAGAR - Ramadass 2nd Cross Street has changed

Over the years, the guideline value for BHARATHI NAGAR - Ramadass 2nd Cross Street has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,000 per sq.ft, and the latest 2024 revision has raised it to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes between revisions show a significant increase of 49% from 2017 to 2023, while the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Nesapakkam

Nesapakkam has 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 for these streets is Rs 3,300 per sq.ft, and the guideline value for BHARATHI NAGAR - Ramadass 2nd Cross Street matches this median.

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

Stamp duty and registration fee for property in BHARATHI NAGAR - Ramadass 2nd 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 charges 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, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHARATHI NAGAR - Ramadass 2nd Cross Street?

The Sub Registrar Office that covers BHARATHI NAGAR - Ramadass 2nd 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 registration in Nesapakkam. It determines 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, the guideline value helps in assessing the financial implications of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value for BHARATHI NAGAR - Ramadass 2nd Cross Street?

The current guideline value for BHARATHI NAGAR - Ramadass 2nd 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 increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the other streets in Nesapakkam with the same guideline value?

Several other streets in Nesapakkam also have a guideline value of Rs 3,300 per sq.ft for 2024, including BHARATHI NAGAR - Ramadass 1st Cross Street, BHARATHI NAGAR - Ramadass Street, and others.

Where can I find the registration office for this area?

The registration office for BHARATHI NAGAR - Ramadass 2nd Cross Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.