Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Minjur village under the Ponneri SRO, classified as Residential Class III Type - I.

How the guideline value of Bharathi Nagar has changed

In the 2017 revision, the guideline value was Rs 268 per sq.ft. This increased to Rs 400 per sq.ft in the 2023 revision, marking a 49% rise. The current guideline value, effective from 1 July 2024, is Rs 440 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a significant increase of 64%. It is important to note that the register has no figures for Bharathi Nagar for the years 2002, 2003, 2007, and 2012.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Bharathi Nagar is below this median.

• Best & Crompton Nagar: Rs 550 per sq.ft (2024)
• Bhavani Eswari Nagar: Rs 550 per sq.ft (2024)
• B.D.O.Aps Bakthavachalam Salai: Rs 550 per sq.ft (2024)
• Bazzar Salai (T.H. Road): Rs 1,320 per sq.ft (2024)
• Balaji Nagar: Rs 550 per sq.ft (2024)
• Bakthavatchalam Salai: Rs 1,320 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. It is important to note that 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 more information.

Which Sub Registrar Office covers Bharathi Nagar?

The Sub Registrar Office that covers Bharathi Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Minjur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 268 per sq.ft to Rs 440 per sq.ft, marking an overall increase of 64% by 2024.

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

The stamp duty for property in Bharathi Nagar is 7%, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 39,600 based on the current guideline value.

Which office handles property registrations in Bharathi Nagar?

The Ponneri Sub Registrar Office handles property registrations in Bharathi Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

Where can I find more information about other streets in Minjur?

Information about other streets in Minjur and their guideline values can be found in the respective links provided for each street, detailing their current rates.