Guideline Value for BHARATHI NAGAR

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Korattur village under the Villivakkam SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - III.

How the guideline value of Bharathi Nagar has changed

The guideline value of Bharathi Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 250 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision marked an increase to Rs 1,500 per sq.ft, and the current value is Rs 1,600 per sq.ft as of the 2024 revision.

In terms of percentage changes, the guideline value rose by 500% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The most recent change from 2023 to 2024 is an increase of 7%. Overall, from 2007 to 2024, the guideline value has increased by 540%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, making Bharathi Nagar's 2024 figure of Rs 1,600 per sq.ft below that median.

• Bharathi Nagar Gandhi Street: Rs 2,500 per sq.ft (2024)
• Bharathi Street: Rs 1,300 per sq.ft (2024)
• Bharath Nagar: Rs 2,500 per sq.ft (2024)
• Bharath Nagar Extension: Rs 2,500 per sq.ft (2024)
• Bharathrathna Rajigandhi Nagar (Kallikuppam): Rs 1,600 per sq.ft (2024)
• Bhavani Nagar: Rs 1,600 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 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Bharathi Nagar?

The Sub Registrar Office that covers Bharathi Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration process of property transactions in Korattur. It is used to determine 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 the applicable fees. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 540% over these years.

What is the land classification for Bharathi Nagar?

The land classification for Bharathi Nagar is Residential Class III Type - III.

Where can I find the Sub Registrar Office for Bharathi Nagar?

The Sub Registrar Office for Bharathi Nagar is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property transactions in Bharathi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at a guideline value of Rs 1,600 per sq.ft, the total stamp duty for a 1,000 sq.ft plot would be Rs 1,12,000.