Guideline Value for BHARATHI NAGAR 3RD LANE

Bharathi Nagar 3rd Lane guideline value

The current guideline value of Bharathi Nagar 3rd 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. The land classification for this area is Residential Special Type - I.

How the guideline value of Bharathi Nagar 3rd Lane has changed

The guideline value for Bharathi Nagar 3rd Lane has undergone several revisions over the years. In 2003, the guideline value was Rs 2,081 per sq.ft, which increased to Rs 4,000 per sq.ft in 2007, marking a significant rise of 92%. The value then saw a substantial increase to Rs 10,000 per sq.ft in 2012, reflecting a 150% growth. However, it dropped to Rs 6,700 per sq.ft in 2017, a decrease of 33%. The value rebounded to Rs 10,000 per sq.ft in 2023, before reaching the current value of Rs 11,000 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 429%. Notably, there is no figure available for the year 2002 in the register 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 value is Rs 11,000 per sq.ft, which is the same as the current guideline value for Bharathi Nagar 3rd Lane.

• Bharathi Nagar 2nd Street: 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 2nd Lane: 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 3rd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 11,000 per sq.ft, the total guideline value amounts to Rs 1,10,00,000. The stamp duty at 7% would be Rs 7,70,000, and the registration fee at 2% would be Rs 2,20,000, bringing the total fees to Rs 9,90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar 3rd Lane?

The Sub Registrar Office that covers Bharathi Nagar 3rd Lane is 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 is an essential factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bharathi Nagar 3rd Lane?

The current guideline value of Bharathi Nagar 3rd 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 from Rs 2,081 per sq.ft in 2003 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 429% over this period.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Bharathi Nagar 3rd Lane is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the Thiyagaraya nagar Sub Registrar Office located?

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

What other streets have the same guideline value in Tnagar?

Other streets in Tnagar that share the same guideline value of Rs 11,000 per sq.ft include Bharathi Nagar 2nd Street, Bharathi Nagar 3rd Street, Bharathi Nagar 4th Street, Bharathi Nagar 2nd Lane, Bharathi Nagar 5th Street, and Bharathi Nagar Ist Lane.