Guideline Value for BHARATHI NAGAR - Vinayagar Street

BHARATHI NAGAR - Vinayagar Street guideline value

The current guideline value for BHARATHI NAGAR - Vinayagar Street is Rs 3,300 per sq.ft. This street is located in Nesapakkam village, under the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of BHARATHI NAGAR - Vinayagar Street has changed

The guideline value for BHARATHI NAGAR - Vinayagar Street has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. This was a decline of 33%. However, in 2023, the value increased to Rs 3,000 per sq.ft, and with the latest revision in 2024, it has risen to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

In total, from 2012 to 2024, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Nesapakkam

Nesapakkam has a total of 148 streets under the Virugambakkam SRO, with the 2024 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 also the current value for BHARATHI NAGAR - Vinayagar Street. Below are other streets in Nesapakkam with their respective guideline values:

• BHARATHI NAGAR - Thirumurugan Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - V.N. Janaki Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Ramadass Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Ramadass 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Ramadass 1st Cross 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 - Vinayagar 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. Together, this totals 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 calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHARATHI NAGAR - Vinayagar Street?

The Sub Registrar Office that covers BHARATHI NAGAR - Vinayagar 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 an essential factor in property transactions as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the stamp duty and registration fees payable during the transaction.

When a property is sold, the registration office uses the guideline value to assess the applicable fees. This ensures that all transactions are recorded accurately and that the government receives the appropriate revenue from property sales.

Frequently asked questions

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

The current guideline value for BHARATHI NAGAR - Vinayagar 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 are the stamp duty and registration fees for property in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Virugambakkam Sub Registrar Office covers BHARATHI NAGAR - Vinayagar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for BHARATHI NAGAR - Vinayagar Street?

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