Guideline Value for BHARATHI NAGAR 3RD STREET

Bharathi Nagar 3rd Street guideline value

The current guideline value of Bharathi Nagar 3rd 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 3rd Street has changed

The guideline value for Bharathi Nagar 3rd Street has seen several revisions over the years. In 2003, the 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%. By 2012, the value remained at Rs 10,000 per sq.ft, which was a decrease of 33% from the previous revision. The next revision in 2017 saw the value jump to Rs 6,700 per sq.ft, followed by a substantial increase to Rs 10,000 per sq.ft in 2023, reflecting a growth of 49%.

The most recent revision in 2024 set the guideline value at Rs 11,000 per sq.ft, which is a 10% increase from the 2023 figure. It is important to note that the register has no figure for this street for the year 2002.

Guideline values in Tnagar

In Tnagar, a total of 262 streets under the Thiyagaraya nagar SRO have a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. Bharathi Nagar 3rd Street's current guideline value aligns with this median.

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

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 or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bharathi Nagar 3rd Street?

The Sub Registrar Office that covers Bharathi Nagar 3rd Street 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 a crucial factor when registering property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. The fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Bharathi Nagar 3rd Street is Rs 11,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, from Rs 2,081 per sq.ft in 2003 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 429%.

What is the land classification for Bharathi Nagar 3rd Street?

Bharathi Nagar 3rd Street is classified as Residential Special Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in Bharathi Nagar 3rd Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 9,90,000, based on the guideline value of Rs 1,10,00,000.

Where can I find the Sub Registrar Office for Bharathi Nagar 3rd Street?

The Thiyagaraya nagar Sub Registrar Office covers Bharathi Nagar 3rd Street and is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.