Guideline Value for BHARATHI NAGAR 2ND LANE

Bharathi Nagar 2nd Lane guideline value

The current guideline value of Bharathi Nagar 2nd Lane is Rs 11,000 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Residential Special Type - I.

How the guideline value of Bharathi Nagar 2nd Lane has changed

The guideline value for Bharathi Nagar 2nd Lane has seen significant changes over the years. In 2003, the guideline value was Rs 2,081 per sq.ft. This increased to Rs 4,000 per sq.ft in 2007, marking a 92% rise. The value then jumped to Rs 10,000 per sq.ft in 2012, reflecting a 150% increase. However, it decreased to Rs 6,700 per sq.ft in 2017, a reduction of 33%. The value then rose sharply to Rs 10,000 per sq.ft in 2023, and finally, it increased to Rs 11,000 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 429%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value is Rs 11,000 per sq.ft, which is equal to the guideline value of Bharathi Nagar 2nd Lane.

• Bharathi Nagar 2nd Street: Rs 11,000 per sq.ft (2024)
• Bharathi Nagar 3rd Lane: Rs 11,000 per sq.ft (2024)
• Bharathi Nagar 3rd Street: Rs 11,000 per sq.ft (2024)
• Bharathi Nagar 4th Street: Rs 11,000 per sq.ft (2024)
• Bharathi Nagar 5th Street: Rs 11,000 per sq.ft (2024)
• Bharathi Nagar Ist Lane: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value would be Rs 1,10,00,000. The stamp duty at 7% would amount to Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, making the total fees Rs 9,90,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bharathi Nagar 2nd Lane?

The Sub Registrar Office that covers Bharathi Nagar 2nd Lane is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. For more details, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property and is used to calculate the applicable fees. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be considered for duty calculations.

Frequently asked questions

What is the current guideline value of Bharathi Nagar 2nd Lane?

The current guideline value of Bharathi Nagar 2nd Lane is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 2,081 per sq.ft in 2003 to Rs 11,000 per sq.ft in 2024, marking an overall increase of 429%.

What are the registration fees for property in Bharathi Nagar 2nd Lane?

For a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000, and the registration fee would be Rs 2,20,000, totaling Rs 9,90,000.

Which office handles property registrations in Bharathi Nagar 2nd Lane?

The Thiyagaraya nagar Sub Registrar Office handles property registrations for Bharathi Nagar 2nd Lane, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

What is the land classification for Bharathi Nagar 2nd Lane?

Bharathi Nagar 2nd Lane is classified as Residential Special Type - I, indicating its suitability for residential purposes.