Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Arumbakkam village under the Kodambakkam SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has seen several revisions over the years. In 2007, the value was set at Rs 850 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, this figure dropped to Rs 2,345 per sq.ft in 2017. The subsequent revision in 2023 brought the value back up to Rs 3,500 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 3,800 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2023 to 2024 represents a 9% increase. Overall, from 2007 to 2024, the guideline value has risen by 347%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. Bharathi Nagar's 2024 guideline value is below this median.

• Bharathi Avenue: Rs 3,800 per sq.ft (2024)
• Bharathi Street: Rs 5,300 per sq.ft (2024)
• Bhoopathy Street: Rs 3,300 per sq.ft (2024)
• Balavinayagar Street: Rs 6,000 per sq.ft (2024)
• Balavinayagar Nagar Extn.,: Rs 6,000 per sq.ft (2024)
• Balavinayagar Nagar: Rs 6,000 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 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, resulting in a total of Rs 3,42,000. 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 details.

Which Sub Registrar Office covers Bharathi Nagar?

The Sub Registrar Office that covers Bharathi Nagar is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting at Rs 850 per sq.ft in 2007, rising to Rs 3,500 in 2012, dropping to Rs 2,345 in 2017, and then increasing to Rs 3,500 in 2023 and Rs 3,800 in 2024.

What is the land classification for Bharathi Nagar?

Bharathi Nagar is classified as Residential Class IV Type - III, indicating its designated use for residential purposes.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, resulting in a combined total of Rs 3,42,000.

Which office handles property registrations for Bharathi Nagar?

The Kodambakkam Sub Registrar Office handles property registrations for Bharathi Nagar, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.