Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Matthur village under the Thiruvottiyur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has undergone several revisions over the years. Starting from Rs 68 per sq.ft in 2002, it increased to Rs 80 per sq.ft in 2003, marking an increase of 18%. In 2007, the value rose significantly to Rs 200 per sq.ft, reflecting a 150% increase. The next revision in 2012 saw the value remain at Rs 1,000 per sq.ft, but this was a decrease of 33% from the previous figure. The value then increased to Rs 670 per sq.ft in 2017, which was a 49% increase. The most recent revisions show a rise to Rs 1,000 per sq.ft in 2023, followed by a further increase to Rs 1,100 per sq.ft in 2024, marking a 10% change.

There are no figures available for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,518%.

Guideline values in Matthur

In Matthur village, there are 66 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the current guideline value for Bharathi Nagar.

• Bhuvaneshwari Nagar: Rs 1,100 per sq.ft (2024)
• Balasubramaniya Nagar: Rs 1,100 per sq.ft (2024)
• Balamurugan Nagar: Rs 1,100 per sq.ft (2024)
• Chinnaswamy Nagar/ Ext: Rs 1,100 per sq.ft (2024)
• Bakthavatchulu Nagar: Rs 1,100 per sq.ft (2024)
• C K M Nagar: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar?

The Sub Registrar Office that covers Bharathi Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Matthur. It serves as a benchmark for determining the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not below the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 68 per sq.ft in 2002, increasing to Rs 1,100 per sq.ft in 2024, which is an overall increase of 1,518% since 2002.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000 for these fees.

Which office handles property registrations in Bharathi Nagar?

The Thiruvottiyur Sub Registrar Office is responsible for property registrations in Bharathi Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification for Bharathi Nagar?

Bharathi Nagar is classified as Residential Special Type - III, which indicates its designated use for residential purposes.