Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Mylapore village under the Mylapore SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - III land classification.

How the guideline value of Bharathi Nagar has changed

The guideline value of Bharathi Nagar has seen significant changes over the years. In 2002, the value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003, marking an 11% rise. The value further rose to Rs 1,540 per sq.ft in 2007, reflecting a 59% increase from the previous revision. By 2012, the guideline value surged to Rs 6,500 per sq.ft, representing a substantial 322% increase from 2007. The most recent revision in 2024 set the value at Rs 7,100 per sq.ft, a 9% increase from 2012. The register has no figures for the years 2017 and 2023 for this street.

Overall, from 2002 to 2024, the guideline value has increased by 714%. This consistent rise illustrates the evolving valuation of properties in Bharathi Nagar over the years.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Bharathi Nagar's 2024 figure below that median.

• Bharathi Street: Rs 7,100 per sq.ft (2024)
• Begum Shahib Street: Rs 6,000 per sq.ft (2024)
• Begum Sahib 5th Street: Rs 4,900 per sq.ft (2024)
• Begum Sahib 5th Lane: Rs 4,900 per sq.ft (2024)
• Begum Sahib 4th Street: Rs 4,900 per sq.ft (2024)
• Begum Sahib 4th Lane: Rs 4,900 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 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000. Together, the total cost for stamp duty and registration fee would be Rs 6,39,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Bharathi Nagar?

The Sub Registrar Office covering Bharathi Nagar is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Mylapore. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, it is essential to be aware of the guideline value as it can significantly impact the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies 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 7,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 872 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 714% over the years.

What is the Mylapore SRO?

The Mylapore SRO (Sub Registrar Office) is the official registration office for properties located in Mylapore village, where all property transactions are officially recorded.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is calculated at 2% of the same value.

Where can I find more information about the guideline values in Mylapore?

For more detailed information about guideline values in Mylapore, you can refer to the Registration Department's guideline value register available on the TNReginet website.