Guideline Value for BHARATHIYAR NAGAR / EXTN

Bharathiyar Nagar / Extn guideline value

The current guideline value of Bharathiyar Nagar / Extn is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO, classified as Residential Class IV Type - I.

How the guideline value of Bharathiyar Nagar / Extn has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the rate was Rs 500 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, a reduction of 33%. The value then rose sharply to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The changes reflect a progression from Rs 500 per sq.ft in 2007 to the current Rs 1,650 per sq.ft, indicating fluctuations and adjustments over the years.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which matches the current value for Bharathiyar Nagar / Extn.

• Bharathiyar Street: Rs 1,650 per sq.ft (2024)
• Bharathi Street / Nagar: Rs 1,980 per sq.ft (2024)
• Bhavani Amman Koil Street: Rs 8,580 per sq.ft (2024)
• Bharathidasan Street: Rs 1,650 per sq.ft (2024)
• Blue Moon Properties: Rs 3,690 per sq.ft (2024)
• Bharathidasan Angu Salai Extn: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Nagar / Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Nagar / Extn?

The Sub Registrar Office that covers Bharathiyar Nagar / Extn is the Chennai South Joint I 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Bharathiyar Nagar / Extn?

The current guideline value for Bharathiyar Nagar / Extn is Rs 1,650 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 500 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting a total increase of 230% over the years.

What is the registration office for Bharathiyar Nagar / Extn?

The registration office for Bharathiyar Nagar / Extn is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Bharathiyar Nagar / Extn is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same value.

Where can I find more information about stamp duty and registration fees?

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