Guideline Value for BHARATHI NAGAR 1st STREET (SLUM BOARD)

BHARATHI NAGAR 1st STREET (SLUM BOARD) guideline value

The current guideline value of BHARATHI NAGAR 1st STREET (SLUM BOARD) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village and falls under the Villivakkam SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of BHARATHI NAGAR 1st STREET (SLUM BOARD) has changed

The guideline value for BHARATHI NAGAR 1st STREET (SLUM BOARD) has seen several revisions over the years. In 2007, the guideline value was Rs 750 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 167% rise. However, in 2017, the value decreased to Rs 1,340 per sq.ft, which was a decline of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft from the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a guideline value for 2024, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing the 2024 figure for BHARATHI NAGAR 1st STREET (SLUM BOARD) below this median.

• BHARATHI NAGAR 2nd STREET (SLUM BOARD): Rs 2,200 per sq.ft (2024)
• Bharathi Kudiyiruppu: Rs 13,200 per sq.ft (2024)
• Bharathi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• BHARATHI NAGAR WEST 1st STREET: Rs 2,200 per sq.ft (2024)
• BHARATHI NAGAR WEST 2nd STREET: Rs 2,200 per sq.ft (2024)
• Baliamman Koil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in BHARATHI NAGAR 1st STREET (SLUM BOARD)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHARATHI NAGAR 1st STREET (SLUM BOARD)?

The Sub Registrar Office that covers BHARATHI NAGAR 1st STREET (SLUM BOARD) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Villivakkam. It is used to determine the stamp duty and registration fees that must be paid at the time of registration. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price of the property.

Additionally, understanding the guideline value can help buyers and sellers make informed decisions during property transactions. It provides a benchmark for assessing property values in the area, ensuring compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of BHARATHI NAGAR 1st STREET (SLUM BOARD)?

The current guideline value of BHARATHI NAGAR 1st STREET (SLUM BOARD) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 750 per sq.ft in 2007, increasing to Rs 2,000 per sq.ft in 2012, and then decreasing to Rs 1,340 per sq.ft in 2017. It rose to Rs 2,000 per sq.ft in 2023 and is currently Rs 2,200 per sq.ft in 2024.

What is the registration office for BHARATHI NAGAR 1st STREET (SLUM BOARD)?

The registration office that covers BHARATHI NAGAR 1st STREET (SLUM BOARD) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would amount to Rs 1,54,000.

What other streets have the same guideline value as BHARATHI NAGAR 1st STREET (SLUM BOARD)?

Other streets in Villivakkam that have the same guideline value of Rs 2,200 per sq.ft for 2024 include BHARATHI NAGAR 2nd STREET (SLUM BOARD), Bharathi Nagar Main Road, BHARATHI NAGAR WEST 1st STREET, and BHARATHI NAGAR WEST 2nd STREET.