Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Thiruvanmiyur village, is Rs 7,150 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has seen several revisions over the years. The 2002 revision started at Rs 989 per sq.ft, which increased to Rs 1,094 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose significantly to Rs 1,300 per sq.ft, reflecting a growth of 19%. The 2012 revision saw a major jump to Rs 6,500 per sq.ft, which was a 400% increase. However, this figure remained unchanged until the 2017 revision, where it dropped to Rs 4,355 per sq.ft, indicating a decrease of 33%. In 2023, the value increased to Rs 6,500 per sq.ft, and most recently, it has risen to Rs 7,150 per sq.ft in the 2024 revision, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 623%. The register has no figures for the years between 2012 and 2017 for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Bharathi Nagar's 2024 figure below that median.

• Bharathidasan Street: Rs 7,150 per sq.ft (2024)
• Bharathi Street (Lakshmipuram 4th Street): Rs 7,150 per sq.ft (2024)
• Bhagathsingh Street: Rs 7,150 per sq.ft (2024)
• Besant Nagar 7th Avenue: Rs 12,660 per sq.ft (2024)
• Besant Nagar 6th Cross Street: Rs 9,900 per sq.ft (2024)
• BESANT NAGAR 6th AVENUE: Rs 11,000 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 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total fees to Rs 6,43,500. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further 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 Thiruvanmiyur

The guideline value is an essential factor in the property registration process in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the authorities will assess the guideline value to calculate the applicable fees. It is crucial for both buyers and sellers to understand that the fees are based on the higher of the guideline value or the sale price, ensuring 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 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 989 per sq.ft in 2002 and reaching Rs 7,150 per sq.ft in 2024. This represents an overall increase of 623% since 2002.

Where can I find the registration office for Bharathi Nagar?

The registration 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.

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

For a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 and the registration fee would be Rs 1,43,000, totaling Rs 6,43,500. These fees are based on the guideline value or the sale price, whichever is higher.

What is the median guideline value for streets in Thiruvanmiyur?

The median guideline value for streets in Thiruvanmiyur is Rs 9,900 per sq.ft, with Bharathi Nagar's guideline value being below this median at Rs 7,150 per sq.ft.