Guideline Value for BHARATHI NAGAR IST LANE

Bharathi Nagar Ist Lane guideline value

The current guideline value of Bharathi Nagar Ist Lane is Rs 11,000 per sq.ft, effective from 1 July 2024. This lane is located in Tnagar village, under the jurisdiction of the Thiyagaraya nagar SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Bharathi Nagar Ist Lane has changed

The guideline value for Bharathi Nagar Ist Lane has undergone several revisions over the years. In 2007, the guideline value was Rs 4,000 per sq.ft, which increased significantly to Rs 10,000 per sq.ft in 2012. However, this value decreased to Rs 6,700 per sq.ft in 2017. Following this, the value rose to Rs 10,000 per sq.ft in 2023 and finally reached Rs 11,000 per sq.ft in the 2024 revision. The register has no figure for this street in 2002 and 2003.

Analyzing the changes between these revisions, from 2007 to 2012, there was a notable increase of 150%. However, the value saw a decrease of 33% from 2012 to 2017. The subsequent increase from 2017 to 2023 was 49%, and from 2023 to 2024, the increase was 10%. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with the median value being Rs 11,000 per sq.ft. Bharathi Nagar Ist Lane's 2024 guideline value aligns perfectly with this median.

• Bharathi Nagar Ist Street: Rs 11,000 per sq.ft (2024)
• Bharathi Nagar 5th Street: Rs 11,000 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Bharathi Nagar Ist 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 to Rs 9,90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar Ist Lane?

The Sub Registrar Office that covers Bharathi Nagar Ist 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 plays a crucial role during the registration of property transactions in Tnagar. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration, ensuring that all transactions are compliant with local regulations.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in establishing a fair transaction value and ensures that the appropriate fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Ist Lane?

The current guideline value of Bharathi Nagar Ist 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 4,000 per sq.ft in 2007 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What is the stamp duty for property in Bharathi Nagar Ist Lane?

The stamp duty for property in Bharathi Nagar Ist Lane is 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 1,10,00,000 would incur a stamp duty of Rs 7,70,000.

Which Sub Registrar Office covers Bharathi Nagar Ist Lane?

The Thiyagaraya nagar Sub Registrar Office covers Bharathi Nagar Ist Lane, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification for Bharathi Nagar Ist Lane?

The land classification for Bharathi Nagar Ist Lane is Residential Special Type - I, indicating its designated use for residential purposes.