Guideline Value for BHARATHI NAGAR GANDHI STREET

Bharathi Nagar Gandhi Street guideline value

The current guideline value of Bharathi Nagar Gandhi Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Korattur village under the Villivakkam SRO and is classified as Residential Class II Type - III.

How the guideline value of Bharathi Nagar Gandhi Street has changed

In the 2012 revision, the guideline value was set at Rs 2,300 per sq.ft. This figure changed in the 2017 revision to Rs 1,541 per sq.ft, marking a decrease of 33%. The most recent revision in 2024 saw a significant increase to Rs 2,500 per sq.ft, which represents a 62% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with the median being Rs 2,500 per sq.ft. Bharathi Nagar Gandhi Street's 2024 guideline value matches this median.

• Bharathi Street: Rs 1,300 per sq.ft (2024)
• Bharathi Nagar: Rs 1,600 per sq.ft (2024)
• Bharath Nagar: Rs 2,500 per sq.ft (2024)
• Bharath Nagar Extension: Rs 2,500 per sq.ft (2024)
• Bharathrathna Rajigandhi Nagar (Kallikuppam): Rs 1,600 per sq.ft (2024)
• Bhavani Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Gandhi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty, charged at 7%, would amount to Rs 1,75,000, while the registration fee at 2% would be Rs 50,000, resulting in a total of Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar Gandhi Street?

The Sub Registrar Office that covers Bharathi Nagar Gandhi Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in determining the amount of stamp duty and registration fees payable during property transactions in Korattur. When buying or selling property, the guideline value is used to assess the minimum value for taxation purposes.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction, including the fees that must be paid at the time of registration.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Gandhi Street?

The current guideline value of Bharathi Nagar Gandhi Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 2,300 per sq.ft to Rs 1,541 per sq.ft in 2017, and then increased to Rs 2,500 per sq.ft in 2024.

What is the land classification for Bharathi Nagar Gandhi Street?

Bharathi Nagar Gandhi Street is classified as Residential Class II Type - III.

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

The Sub Registrar Office for Bharathi Nagar Gandhi Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, on a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 2,25,000.