Guideline Value for BHARATHI NAGAR 2ND STREET

Bharathi Nagar 2nd Street guideline value

The current guideline value of Bharathi Nagar 2nd Street 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 Street has changed

Over the years, the guideline value for Bharathi Nagar 2nd Street has seen significant changes. The earliest recorded figure is Rs 2,850 per sq.ft from the 2003 revision. This increased to Rs 4,000 per sq.ft in 2007, marking a 40% rise. The guideline value then surged to Rs 10,000 per sq.ft in 2012, reflecting a substantial 150% increase. However, it dropped to Rs 6,700 per sq.ft in 2017, which was a decrease of 33%. The value then rose again to Rs 10,000 per sq.ft in 2023, before reaching the current figure of Rs 11,000 per sq.ft in 2024, a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2003 revision to the current 2024 figure, there has been an increase of 286%. It is important to note that the register has no figure for the year 2002 for this street.

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 guideline value is Rs 11,000 per sq.ft, which is equal to the 2024 figure for Bharathi Nagar 2nd Street.

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

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, resulting in a total of Rs 9,90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar 2nd Street?

The Bharathi Nagar 2nd Street is covered by the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees, which are essential costs in the property buying process.

When a property is sold, the registration office will assess the guideline value to ensure that the transaction is recorded accurately. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

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

The current guideline value of Bharathi Nagar 2nd Street 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 from Rs 2,850 per sq.ft in 2003 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 286% over the years.

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

Bharathi Nagar 2nd Street is classified as Residential Special Type - I.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Bharathi Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,10,00,000, the stamp duty would be Rs 7,70,000 at a rate of 7%.