Guideline Value for BHARATHI NAGAR WEST 1st STREET

BHARATHI NAGAR WEST 1st STREET guideline value

The current guideline value of BHARATHI NAGAR WEST 1st STREET is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class V Type - I.

How the guideline value of BHARATHI NAGAR WEST 1st STREET has changed

The guideline value for BHARATHI NAGAR WEST 1st STREET has seen several revisions over the years. The earliest recorded revision was in 2007, with a value of Rs 750 per sq.ft. This increased to Rs 2,000 per sq.ft in 2012, marking a significant rise of 167%. However, the value then dropped to Rs 1,340 per sq.ft in 2017, a decrease of 33%. Following this, the value surged to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 193%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median value is Rs 4,900 per sq.ft, placing BHARATHI NAGAR WEST 1st STREET's 2024 value below this median.

• BHARATHI NAGAR WEST 2nd STREET: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Main Road: Rs 2,200 per sq.ft (2024)
• BHARATHI NAGAR 2nd STREET (SLUM BOARD): Rs 2,200 per sq.ft (2024)
• BHARATHI NAGAR 1st STREET (SLUM BOARD): Rs 2,200 per sq.ft (2024)
• Bharathi Kudiyiruppu: Rs 13,200 per sq.ft (2024)
• Baliamman Koil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in BHARATHI NAGAR WEST 1st STREET

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHARATHI NAGAR WEST 1st STREET?

The Sub Registrar Office covering BHARATHI NAGAR WEST 1st STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial reference point during property registration in Villivakkam. It is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official valuation of the property.

When buying or selling property, the guideline value helps to establish a fair transaction price, as it reflects the government's assessment of property values in the area. Buyers and sellers should be aware of these values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of BHARATHI NAGAR WEST 1st STREET?

The current guideline value of BHARATHI NAGAR WEST 1st STREET is Rs 2,200 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 750 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 193% over this period.

What is the land classification of BHARATHI NAGAR WEST 1st STREET?

BHARATHI NAGAR WEST 1st STREET is classified as Residential Class V Type - I.

Where can I find the registration office for this area?

The registration office for BHARATHI NAGAR WEST 1st STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.