Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Vellanoor-1 village under the Avadi SRO, is Rs 555 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Bharathi Nagar has changed

Over the years, the guideline value for Bharathi Nagar has seen several revisions. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was set at Rs 500 per sq.ft, which was then increased to Rs 555 per sq.ft in the 2024 revision, marking an increase of 11%.

The most recent revision in 2024 reflects the current guideline value of Rs 555 per sq.ft. This change from the previous year's value indicates a notable adjustment in the guideline value for this street.

Guideline values in Vellanoor-1

In Vellanoor-1, there are 34 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,980 per sq.ft. The median guideline value in this area is Rs 555 per sq.ft, which is equal to the current guideline value of Bharathi Nagar.

• Bhavani Nagar: Rs 555 per sq.ft (2024)
• Chelliamman Nagar: Rs 555 per sq.ft (2024)
• Chelliyamman Nagar Phase - I: Rs 440 per sq.ft (2024)
• Arubadai Nagar: Rs 440 per sq.ft (2024)
• Arch Anthony Nagar: Rs 555 per sq.ft (2024)
• Anitha Nagar: Rs 555 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar

For a 1,000 sq.ft plot at the current rate of Rs 555 per sq.ft, the guideline value would be Rs 5,55,000. The stamp duty at 7% would amount to Rs 38,850, and the registration fee at 2% would be Rs 11,100, totaling Rs 49,950. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Bharathi Nagar?

The Sub Registrar Office that covers Bharathi Nagar is the Avadi Sub Registrar Office. The address is 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 Vellanoor-1

The guideline value is a critical factor in the registration process when buying or selling property in Vellanoor-1. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the property is registered at a value reflective of the local market standards.

When a property transaction occurs, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that the costs associated with the property transfer are based on a standardized valuation, which is essential for both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 555 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bharathi Nagar has changed from Rs 500 per sq.ft in 2023 to Rs 555 per sq.ft in 2024, reflecting an increase of 11%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values of other streets in Vellanoor-1?

Other streets in Vellanoor-1 have varying guideline values ranging from Rs 440 to Rs 1,980 per sq.ft. The median value for these streets is Rs 555 per sq.ft, which is the same as the guideline value for Bharathi Nagar.

What fees are associated with property registration in Bharathi Nagar?

When registering property in Bharathi Nagar, the stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 49,950 in fees.

Where is the Sub Registrar Office for Bharathi Nagar located?

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