Guideline Value for BHARATHI NAGAR IST STREET

Bharathi Nagar Ist Street guideline value

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

How the guideline value of Bharathi Nagar Ist Street has changed

The guideline value for Bharathi Nagar Ist Street has undergone several revisions over the years. In 2002, the value was Rs 1,875 per sq.ft, which increased to Rs 4,000 per sq.ft in 2007, marking a significant rise of 113%. The value then jumped to Rs 10,000 per sq.ft in 2012, reflecting a 150% increase. However, it decreased to Rs 6,700 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 10,000 per sq.ft in 2023, and finally reached Rs 11,000 per sq.ft in 2024, showing a 10% increase from the previous year.

It is important to note that there are no figures available for Bharathi Nagar Ist Street in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 487%.

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 guideline value for these streets is Rs 11,000 per sq.ft, which is equal to the current value for Bharathi Nagar Ist Street.

• Bharathi Nagar Ist Lane: 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 11,000 per sq.ft, the 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, totaling 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 Ist Street?

The Sub Registrar Office that covers Bharathi Nagar Ist 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 serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Bharathi Nagar Ist 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 from Rs 1,875 per sq.ft in 2002 to Rs 11,000 per sq.ft in 2024, reflecting an overall increase of 487% over the years.

What is the registration office for Bharathi Nagar Ist Street?

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

What are the stamp duty and registration fees based on the guideline value?

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.

What is the land classification for Bharathi Nagar Ist Street?

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