Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Mitnamalle village under the Avadi SRO, is Rs 802 per sq.ft. This value is effective from 1 July 2024 and 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 undergone several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which later decreased to Rs 402 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 600 per sq.ft, and the most recent 2024 revision has raised it further to Rs 802 per sq.ft, marking a 34% increase from the previous year.

In summary, the changes in the guideline value from the earlier revisions to the current one are as follows: from Rs 600 in 2012 to Rs 402 in 2017 (a decrease of 33%), then up to Rs 600 in 2023 (an increase of 49%), and finally to Rs 802 in 2024 (an increase of 34%). There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mitnamalle

In Mitnamalle, there are 53 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,550 per sq.ft. The median value is Rs 802 per sq.ft, which is equal to the current guideline value of Bharathi Nagar.

• Bharath Avenue: Rs 802 per sq.ft (2024)
• Chengalaiyamman Koil St: Rs 806 per sq.ft (2024)
• Chidambaram St: Rs 804 per sq.ft (2024)
• Balaji Avenue: Rs 802 per sq.ft (2024)
• Bajanai Koil St: Rs 802 per sq.ft (2024)
• Crpf Nagar Bharath Avenue: Rs 800 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 802 per sq.ft, the total guideline value would be Rs 8,02,000. The stamp duty at 7% would amount to Rs 56,140, and the registration fee at 2% would be Rs 16,040. Together, the total cost for these fees would be Rs 72,180. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, 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 Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mitnamalle. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a buyer and seller agree on a sale price, the higher of the sale price or the guideline value is used to calculate the stamp duty and registration fees. This ensures that the transaction is recorded accurately and complies with the legal requirements set by the Registration Department.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 802 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 in 2012 to Rs 402 in 2017, then increased to Rs 600 in 2023, and finally to Rs 802 in 2024.

What is the land classification for Bharathi Nagar?

Bharathi Nagar falls under the Residential Class II Type - I land classification.

Where can I find the registration office for Bharathi Nagar?

The registration office for Bharathi Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for property in Bharathi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 72,180.