Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Peramanoor village under the Chengleput Joint II SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has seen significant changes over the years. The value was Rs 275 per sq.ft in the 2007 revision, which increased to Rs 600 per sq.ft in the 2023 revision, marking an increase of 118%. The latest revision in 2024 set the value at Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 140%. It is important to note that the register has no figures for the years 2002, 2003, 2007, 2012, and 2017 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Bharathi Nagar is below this median.

• Bharathiar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Bharathiar Street (Ward -3): Rs 661 per sq.ft (2024)
• Bharathiar Street (Ward -18): Rs 660 per sq.ft (2024)
• Bharanar Steet (Ward -6): Rs 1,320 per sq.ft (2024)
• Bethanaidu Street (Ward -18): Rs 660 per sq.ft (2024)
• Bhavani Nagar (Per): Rs 661 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 would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, resulting in a total of Rs 59,400. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more details.

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 Peramanoor

The guideline value is a crucial factor in property transactions within Peramanoor. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during registration.

When a property is registered, the guideline value serves as a benchmark for calculating the necessary fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are paid to the government.

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 by 140%. It was Rs 275 per sq.ft in 2007, Rs 600 per sq.ft in 2023, and is now Rs 660 per sq.ft in 2024.

What is the land classification for Bharathi Nagar?

Bharathi Nagar falls under the Residential Class II Type - I land classification. This classification is important for understanding the permitted uses of the land.

What are the stamp duty and registration fees for a property in Bharathi Nagar?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200, and the registration fee would be Rs 13,200, totaling Rs 59,400. These fees are based on the guideline value.

Where is the Sub Registrar Office for Bharathi Nagar located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Bharathi Nagar.