Guideline Value for BHARATHI NAGAR 5TH STREET

Bharathi Nagar 5th Street guideline value

The current guideline value of Bharathi Nagar 5th 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, classified as Residential Special Type - I.

How the guideline value of Bharathi Nagar 5th Street has changed

The guideline value for Bharathi Nagar 5th 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 92% rise. Following this, the value jumped to Rs 10,000 per sq.ft in 2012, reflecting a 150% increase. However, from 2012 to 2017, the value decreased to Rs 6,700 per sq.ft, a drop of 33%. The 2023 revision set the value at Rs 10,000 per sq.ft, and the most recent revision in 2024 has increased it to Rs 11,000 per sq.ft, a 10% rise.

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, with the 2024 guideline values 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 current guideline value of Bharathi Nagar 5th Street.

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

Which Sub Registrar Office covers Bharathi Nagar 5th Street?

The Sub Registrar Office that covers Bharathi Nagar 5th 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 in the registration process when buying or selling property in Tnagar. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is officially recorded at an appropriate value.

When a property is sold, the guideline value serves as a benchmark for the transaction. Buyers and sellers must be aware of this value to understand the financial implications of their property transactions, including the associated costs for registration and stamp duty.

Frequently asked questions

What is the current guideline value of Bharathi Nagar 5th Street?

The current guideline value of Bharathi Nagar 5th 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 2,081 per sq.ft in 2003 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 429% over the years.

What is the land classification for Bharathi Nagar 5th Street?

Bharathi Nagar 5th Street is classified as Residential Special Type - I under the Thiyagaraya nagar SRO.

What are the stamp duty and registration fees for property in Bharathi Nagar 5th Street?

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 the registration for Bharathi Nagar 5th Street?

The registration for Bharathi Nagar 5th Street is handled by the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.