Guideline Value for BHARATHI NAGAR ROAD (STREET)

Bharathi Nagar Road (Street) guideline value

The current guideline value of Bharathi Nagar Road (Street) is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Bharathi Nagar Road (Street) has changed

The guideline value for Bharathi Nagar Road has undergone several revisions over the years. In 2002, the value was Rs 305 per sq.ft, which increased to Rs 409 per sq.ft in 2003, marking a 34% rise. The value saw a significant jump of 144% to reach Rs 1,000 per sq.ft in 2007. It then increased by 150% to Rs 2,500 per sq.ft in 2012, but experienced a decline of 33% to Rs 1,675 per sq.ft in 2017. Following this, the value rose by 49% to Rs 2,500 per sq.ft in 2023, and finally increased by 12% to the current value of Rs 2,800 per sq.ft in 2024.

There are no figures available for the years between these revisions for Bharathi Nagar Road. The overall change from 2002 to 2024 reflects an increase of 818% in the guideline value per sq.ft.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Bharathi Nagar Road's current value below this median.

• Bharathiyar 1st Street: Rs 2,800 per sq.ft (2024)
• Bharathiyar 2nd Street: Rs 2,800 per sq.ft (2024)
• Bharathiyar 3rd Street: Rs 2,800 per sq.ft (2024)
• Bharathiyar 4th Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar 2nd Main Road: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Road (Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, while the registration fee at 2% would be Rs 56,000, making the total fees Rs 2,52,000. 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 Road (Street)?

The Sub Registrar Office that covers Bharathi Nagar Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling a property, the guideline value helps in assessing the financial implications of the transaction. Buyers and sellers should be aware of the current guideline value to make informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Road?

The current guideline value of Bharathi Nagar Road (Street) is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 305 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 818%.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft property at the current rate, the total fees would be Rs 2,52,000.

Which office handles the registration for Bharathi Nagar Road?

The Neelankarai Sub Registrar Office handles the registration for Bharathi Nagar Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value for streets in Palavakkam?

The median guideline value for streets in Palavakkam is Rs 3,300 per sq.ft, with Bharathi Nagar Road's current value being below this median.