Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Vengaivasal village under the Selaiyur SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - II.

How the guideline value of Bharathi Nagar has changed

Over the years, the guideline value for Bharathi Nagar has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later revised to Rs 1,675 per sq.ft in 2017. This marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has brought the value to Rs 2,700 per sq.ft, an increase of 8% from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Bharathi Nagar. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Vengaivasal

In Vengaivasal village, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with the median value being Rs 2,700 per sq.ft. Bharathi Nagar's 2024 guideline value aligns with this median.

• Bharathiar Nagar: Rs 3,300 per sq.ft (2024)
• Bethel Nagar: Rs 1,650 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 1,900 per sq.ft (2024)
• Bogar Avenue: Rs 2,730 per sq.ft (2024)
• Balaji Nagar: Rs 2,700 per sq.ft (2024)
• Casagrand Zenith Phase-I: Rs 3,200 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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?

Bharathi Nagar falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Vengaivasal

The guideline value is a crucial factor when buying or selling property in Vengaivasal. It serves as a benchmark for determining the minimum value of a property, ensuring that transactions are conducted fairly and transparently. At the time of registration, the guideline value is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value helps in assessing the correct amount of tax that needs to be paid. Buyers and sellers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification of Bharathi Nagar?

The land classification for Bharathi Nagar is Mixed Type - II, which indicates the nature of land use in the area.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Bharathi Nagar?

Stamp duty for properties in Bharathi Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.