Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Thiruvottiyur village under the Thiruvottiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has undergone several revisions over the years. In 2002, the value was Rs 218 per sq.ft, which increased to Rs 257 per sq.ft in 2003. The value saw a significant rise to Rs 400 per sq.ft in 2007, followed by a substantial increase to Rs 3,000 per sq.ft in 2012. However, it dropped to Rs 2,010 per sq.ft in 2017, before climbing back to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft.

From 2017 to 2023, the value increased by 49%. The jump from 2007 to 2012 was an impressive 650%, while the value decreased by 33% from 2012 to 2017. The increase from 2002 to 2003 was 18%, and from 2003 to 2007, it rose by 56%. Overall, from 2002 to 2024, the guideline value has increased by 1,414%.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Bharathi Nagar.

• B.B.Tharka Road: Rs 2,800 per sq.ft (2024)
• Basin Road: Rs 2,200 per sq.ft (2024)
• B.Sathanthapuram: Rs 2,800 per sq.ft (2024)
• Cauvery Nagar: Rs 3,300 per sq.ft (2024)
• Balakrishna Nagar: Rs 1,900 per sq.ft (2024)
• Chairman T.K.P . Nagar: Rs 3,700 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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?

Bharathi Nagar falls under the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

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

When a property is registered, the higher value between the guideline value and the sale price is considered for calculating applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 218 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,414% over this period.

What is the stamp duty rate for properties in Bharathi Nagar?

The stamp duty rate for properties in Bharathi Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Bharathi Nagar located?

The Sub Registrar Office covering Bharathi Nagar is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What are the guideline values of other streets in Thiruvottiyur?

Other streets in Thiruvottiyur have varying guideline values, with rates ranging from Rs 1,300 to Rs 8,600 per sq.ft. For example, B.B.Tharka Road is Rs 2,800 per sq.ft, while Chairman T.K.P . Nagar is Rs 3,700 per sq.ft.