Guideline Value for BHARATHI NAGAR 1st Street

BHARATHI NAGAR 1st Street guideline value

The current guideline value of BHARATHI NAGAR 1st 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 is classified as Residential Class II Type - I.

How the guideline value of BHARATHI NAGAR 1st Street has changed

The guideline value for BHARATHI NAGAR 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 150 per sq.ft. This increased to Rs 165 per sq.ft in 2003, marking a 10% rise. In 2007, the value saw a significant jump to Rs 500 per sq.ft, reflecting a 203% increase. The 2012 revision brought the value back to Rs 3,000 per sq.ft, which was a decrease of 500%. In 2017, it changed to Rs 2,010 per sq.ft, a drop of 33%, before rising to Rs 3,000 per sq.ft in 2023, and finally reaching Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years not mentioned in the register for this street. The overall change from 2002 to 2024 is an increase of 2100%.

Guideline values in Nesapakkam

Nesapakkam has a total of 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 guideline value is Rs 3,300 per sq.ft, which is equal to the current value of BHARATHI NAGAR 1st Street.

• BHARATHI NAGAR 2nd Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR 3rd Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Ambedhkar Street: Rs 3,850 per sq.ft (2024)
• BHARATHI NAGAR - Amman Street: Rs 3,850 per sq.ft (2024)
• BHARATHI NAGAR - Anna Street: Rs 3,850 per sq.ft (2024)
• BHARATHI NAGAR - Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in BHARATHI NAGAR 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHARATHI NAGAR 1st Street?

The Sub Registrar Office that covers BHARATHI NAGAR 1st 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 critical factor in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial obligations involved. This helps maintain transparency in property transactions within the area.

Frequently asked questions

What is the current guideline value of BHARATHI NAGAR 1st Street?

The current guideline value of BHARATHI NAGAR 1st 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 significantly from Rs 150 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 2100% over this period.

What are the stamp duty and registration fees for properties 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 handles registrations for BHARATHI NAGAR 1st Street?

The Virugambakkam Sub Registrar Office handles registrations for BHARATHI NAGAR 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for BHARATHI NAGAR 1st Street?

BHARATHI NAGAR 1st Street is classified as Residential Class II Type - I, indicating its designation for residential use.