Guideline Value for BHARATHIAR NAGAR

Bharathiar Nagar guideline value

The current guideline value of Bharathiar Nagar, located in Vengaivasal village under the Selaiyur SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Industries Special Type - I.

How the guideline value of Bharathiar Nagar has changed

Over the years, the guideline value for Bharathiar Nagar has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. In 2023, the value increased to Rs 3,000 per sq.ft, and the latest revision in 2024 has further increased it to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, positioning Bharathiar Nagar's 2024 figure above the median.

• Bethel Nagar: Rs 1,650 per sq.ft (2024)
• Bharathi Nagar: Rs 2,700 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 1,900 per sq.ft (2024)
• Balaji Nagar: Rs 2,700 per sq.ft (2024)
• Bogar Avenue: Rs 2,730 per sq.ft (2024)
• Bajanai Koil Street: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be 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, making the total cost for stamp duty and registration fees Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiar Nagar?

The Sub Registrar Office covering Bharathiar Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Vengaivasal, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration regulations.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bharathiar Nagar?

The current guideline value of Bharathiar 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 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Bharathiar Nagar?

The land classification for Bharathiar Nagar is Industries Special Type - I, indicating its suitability for industrial purposes.

What are the registration fees for property in Bharathiar Nagar?

The registration fees are calculated based on the guideline value, with a stamp duty of 7% and a registration fee of 2%. For a 1,000 sq.ft plot at the current rate, the total registration fees would be Rs 2,97,000.

Where is the Sub Registrar Office for Bharathiar Nagar located?

The Sub Registrar Office for Bharathiar Nagar is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.