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Guideline Value

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Guideline Value for BHARATHI NAGAR 2nd STREET (SLUM BOARD)

₹2200/sq.ft.

The guideline value for Bharathi Nagar 2nd Street (slum Board) in Villivakkam village (Villivakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class V Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Villivakkam

Village

Villivakkam

SRO

Residential Class V Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹750 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 ₹544 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 ( Near By Nolambur Eb Office )
044-29561092
[email protected]

DRO (District Registrar Office)

No.182 Bharati Salai (pycrafts Road) Royapettah, Chennai - 600 014.
044-28613607
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bharathi Nagar 2nd Street (slum Board)

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BHARATHI NAGAR 2nd STREET (SLUM BOARD) guideline value

The current guideline value of BHARATHI NAGAR 2nd 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, classified as Residential Class V Type - I.

How the guideline value of BHARATHI NAGAR 2nd STREET (SLUM BOARD) has changed

The guideline value for BHARATHI NAGAR 2nd STREET (SLUM BOARD) has seen several revisions over the years. In 2002, the guideline value was Rs 544 per sq.ft. This increased to Rs 750 per sq.ft in 2007, marking a significant rise of 38%. The value then surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable increase of 167%. However, it decreased to Rs 1,340 per sq.ft in 2017, which was a decline of 33%. The value then rose again to Rs 2,000 per sq.ft in 2023, before reaching the current figure of Rs 2,200 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 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 304%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, indicating that the 2024 figure for BHARATHI NAGAR 2nd STREET (SLUM BOARD) is below this median.

Stamp duty and registration fee for property in BHARATHI NAGAR 2nd 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 would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total 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.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHARATHI NAGAR 2nd STREET (SLUM BOARD)?

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

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

The guideline value is a critical factor in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of BHARATHI NAGAR 2nd STREET (SLUM BOARD)?

The current guideline value of BHARATHI NAGAR 2nd 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 significantly from Rs 544 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024. Notable changes include an increase of 167% from 2007 to 2012 and a decrease of 33% from 2012 to 2017.

What is the land classification for BHARATHI NAGAR 2nd STREET (SLUM BOARD)?

BHARATHI NAGAR 2nd STREET (SLUM BOARD) is classified as Residential Class V Type - I. This classification is important for determining the guideline value and other regulatory aspects.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. This office handles registrations for properties in the Villivakkam area.

How is stamp duty calculated for properties in Villivakkam?

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