Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar in Chemmancheri village, under the Neelankarai SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has seen significant changes over the years. In 2003, the value was Rs 74 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft by 2007, marking a rise of 1927%. The value then fluctuated, remaining at Rs 1,500 per sq.ft until 2012, when it increased to Rs 3,500 per sq.ft. However, this was followed by a decrease to Rs 2,345 per sq.ft in 2017, representing a decline of 33%.

From 2017, the guideline value rose to Rs 3,500 per sq.ft in 2023, and then further increased to Rs 3,900 per sq.ft in 2024, an increase of 11%. Overall, from 2003 to 2024, the guideline value has increased by 5170%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Bharathi Nagar's 2024 figure above this median.

• Bennetgoal Men-Co: Rs 3,900 per sq.ft (2024)
• Bhavan Dass Garden: Rs 1,700 per sq.ft (2024)
• Bound Street: Rs 1,700 per sq.ft (2024)
• Chandra / Jothilakshmi Garden: Rs 1,700 per sq.ft (2024)
• Chelliamman Koil Street: Rs 1,700 per sq.ft (2024)
• Chemmanchery Estate: Rs 3,300 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 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total fees Rs 3,51,000. 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 detailed calculations.

Which Sub Registrar Office covers Bharathi Nagar?

The Sub Registrar Office that covers Bharathi Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for maintaining transparency in real estate dealings. Buyers and sellers must be aware of the current guideline value to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 74 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 5170% over the years.

What is the land classification for Bharathi Nagar?

Bharathi Nagar falls under the Residential Class I Type - I land classification, indicating its suitability for residential purposes.

Where can I find the registration office for Bharathi Nagar?

The registration office for Bharathi Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Bharathi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 3,51,000 in fees, including stamp duty and registration fees.