Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Ponneri village under the Ponneri SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has seen several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 700 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision.

It is important to note that the register has no figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 40%, reflecting the current rate of Rs 700 per sq.ft.

Guideline values in Ponneri

In Ponneri, there are 120 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 201 to Rs 1,200 per sq.ft, with the median value being Rs 700 per sq.ft. Bharathi Nagar's 2024 figure aligns with this median.

• Bhajanai Kovil Street: Rs 700 per sq.ft (2024)
• Barma Nagar / Anna Nagar: Rs 700 per sq.ft (2024)
• Balavinayagam Kovil Street: Rs 700 per sq.ft (2024)
• Burma Tamizhar Street: Rs 700 per sq.ft (2024)
• Balan Nagar: Rs 700 per sq.ft (2024)
• Balammal Street: Rs 700 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 700 per sq.ft, the guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, totaling Rs 63,000. 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 details.

Which Sub Registrar Office covers Bharathi Nagar?

Bharathi Nagar falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ponneri. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in both 2023 and 2024.

What is the land classification of Bharathi Nagar?

Bharathi Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000.

Which office handles property registration for Bharathi Nagar?

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