Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar in Ninna Karai village is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has seen significant changes over the years. In the 2007 revision, the value was set at Rs 100 per sq.ft. This figure remained until the 2023 revision, where it increased to Rs 600 per sq.ft, marking a 500% increase. The 2024 revision has further raised the guideline value to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

There are several years where the register has no figure for this street, specifically in 2002, 2003, 2007, 2012, and 2017. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Bharathi Nagar's 2024 figure below this median.

• Bharathiar Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Bharathiar Street (Ward -3): Rs 660 per sq.ft (2024)
• Bharathiar Street (Ward -18): Rs 660 per sq.ft (2024)
• Bharanar Steet (Ward -6): Rs 1,321 per sq.ft (2024)
• Bethanaidu Street (Ward -18): Rs 660 per sq.ft (2024)
• Bhavani Nagar (Per): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is important to note that the 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?

The Sub Registrar Office that covers Bharathi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees payable, ensuring that these costs are based on an official valuation of the property.

When a property transaction occurs, the guideline value helps to protect both the buyer and seller by providing a standardized value that reflects the market conditions as determined by the Registration Department. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 100 per sq.ft to Rs 660 per sq.ft in 2024, marking an overall increase of 560%.

What are the other streets with similar guideline values in Ninna Karai?

Other streets in Ninna Karai with similar guideline values include Bharathiar Street (Ward -3), Bharathiar Street (Ward -18), Bethanaidu Street (Ward -18), and Bhavani Nagar, all valued at Rs 660 per sq.ft in 2024.

What fees are associated with buying property in Bharathi Nagar?

When buying property in Bharathi Nagar, buyers should be aware of the stamp duty and registration fees. For example, on a property valued at Rs 6,60,000, the total fees would amount to Rs 59,400.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details through the provided link.