Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Sivabootham village, is Rs 1,130 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - II.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 1,005 per sq.ft, which increased by 12% to Rs 1,130 per sq.ft in the 2024 revision.

This increase reflects a notable change in the guideline value over the last year. The current figure of Rs 1,130 per sq.ft is the latest and represents the most up-to-date valuation for this street.

Guideline values in Sivabootham

In Sivabootham, there are 39 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,120 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, indicating that Bharathi Nagar's current value is below this median.

• Chettiyar Agaram Main Road: Rs 1,650 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 1,430 per sq.ft (2024)
• Andal Nagar: Rs 1,650 per sq.ft (2024)
• Ganapathypuram: Rs 1,120 per sq.ft (2024)
• Indira Nagar: Rs 1,120 per sq.ft (2024)
• Kamatchi Nagar: Rs 1,210 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 1,130 per sq.ft, the total guideline value amounts to Rs 11,30,000. The stamp duty at 7% would be Rs 79,100, and the registration fee at 2% would be Rs 22,600, making the total cost for these fees Rs 1,01,700. 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 detailed calculations.

Which Sub Registrar Office covers Bharathi Nagar?

The Sub Registrar Office that covers Bharathi Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Sivabootham. 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 buying or selling property, the guideline value is used to calculate the applicable fees. Buyers should be aware that the fees are charged based on the higher of the guideline value or the sale price, which means it is essential to understand the current guideline value when engaging in property transactions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 1,130 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bharathi Nagar was Rs 1,005 per sq.ft in 2023 and increased by 12% to Rs 1,130 per sq.ft in 2024. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Sivabootham?

The median guideline value in Sivabootham is Rs 1,650 per sq.ft. Bharathi Nagar's current guideline value is below this median.

What fees are associated with purchasing property in Bharathi Nagar?

When purchasing property in Bharathi Nagar, stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 1,01,700 in fees.

Where can I find the Sub Registrar Office for Bharathi Nagar?

The Sub Registrar Office for Bharathi Nagar is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.