Guideline Value for BHARATHI ROAD

Bharathi Road guideline value

The current guideline value of Bharathi Road, located in Ramapuram village, is Rs 3,550 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Bharathi Road has changed

The guideline value for Bharathi Road has undergone several revisions over the years. In 2002, the value was Rs 349 per sq.ft, which increased to Rs 432 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,400 per sq.ft in 2007. The value saw a further increase to Rs 3,200 per sq.ft in 2012, but then dropped to Rs 2,144 per sq.ft in 2017. The value rebounded to Rs 3,200 per sq.ft in 2023 and currently stands at Rs 3,550 per sq.ft as of the 2024 revision.

Notably, the changes between revisions include a 24% increase from 2002 to 2003, a 224% increase from 2003 to 2007, a 129% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and an 11% increase from 2023 to 2024. Overall, the guideline value has increased by 917% from 2002 to 2024.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, making Bharathi Road's 2024 figure of Rs 3,550 per sq.ft higher than the median.

• Bharathi Salai: Rs 3,550 per sq.ft (2024)
• Bharathi Nagar Main Road: Rs 3,550 per sq.ft (2024)
• Bharathi Nagar 2nd Street: Rs 3,550 per sq.ft (2024)
• Bharathi Nagar 1st Street: Rs 3,550 per sq.ft (2024)
• Bhakyalakshmi Nagar 4th Street: Rs 3,100 per sq.ft (2024)
• Bhakyalakshmi Nagar 3rd Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,550 per sq.ft, the total guideline value would be Rs 35,50,000. The stamp duty at 7% would amount to Rs 2,48,500, while the registration fee at 2% would be Rs 71,000. Together, the total cost for stamp duty and registration would be Rs 3,19,500. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Road?

The Sub Registrar Office that covers Bharathi Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Ramapuram. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is bought or sold, the guideline value plays an essential role in the transaction. It ensures that the property is registered at a fair value, which is necessary for the calculation of applicable taxes and fees. Understanding the guideline value is important for both buyers and sellers to facilitate a smooth registration experience.

Frequently asked questions

What is the current guideline value of Bharathi Road?

The current guideline value of Bharathi Road is Rs 3,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 349 per sq.ft in 2002 to Rs 3,550 per sq.ft in 2024, reflecting an overall increase of 917% over the years.

What is the median guideline value in Ramapuram?

The median guideline value for streets in Ramapuram is Rs 3,100 per sq.ft, with Bharathi Road's current value above this median.

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

For a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 35,50,000, with stamp duty at Rs 2,48,500 and a registration fee of Rs 71,000, totaling Rs 3,19,500.

Which office handles property registrations for Bharathi Road?

The Chennai South Joint II Sub Registrar Office handles property registrations for Bharathi Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.