Guideline Value for Bharani Nagar (Ward-23)

Bharani Nagar (Ward-23) guideline value

The current guideline value of Bharani Nagar (Ward-23) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Bharani Nagar (Ward-23) has changed

Since the 2012 revision, the guideline value for Bharani Nagar (Ward-23) has seen an overall increase of 8%, moving from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024. The 2023 revision recorded a value of Rs 1,200 per sq.ft, indicating no change from the 2012 figure, while the increase from 2023 to 2024 was 8%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. The most recent figures reflect a consistent trend in the guideline value, culminating in the current rate.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, placing Bharani Nagar's 2024 figure below this median.

• Bhakthavatchalam Nagar (Ward-01): Rs 2,200 per sq.ft (2024)
• Bharathiar 1st St (Ward-15): Rs 1,600 per sq.ft (2024)
• Bharathiar 3rd St (Ward-15): Rs 1,600 per sq.ft (2024)
• Bharathiar Jambuli St (Ward-18): Rs 1,600 per sq.ft (2024)
• Bharathiar St. 1st st (Ward No.15): Rs 1,600 per sq.ft (2024)
• Bharathiar St. 2nd st (Ward No.15): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bharani Nagar (Ward-23)

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 information.

Which Sub Registrar Office covers Bharani Nagar (Ward-23)?

The Sub Registrar Office covering Bharani Nagar (Ward-23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional details.

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

The guideline value is a critical factor in the registration process for property transactions in Madhavaram. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees payable.

When buying or selling property, it is essential to be aware of the guideline value, as it ensures compliance with local regulations and helps in accurately calculating the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Bharani Nagar (Ward-23)?

The current guideline value of Bharani Nagar (Ward-23) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased by 8% from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, with no change noted from 2012 to 2023.

What is the land classification of Bharani Nagar?

Bharani Nagar is classified as Residential Class III Type - I, which influences its guideline value and usage.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in Bharani Nagar.

How is stamp duty calculated in Bharani Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 13,00,000 would incur a stamp duty of Rs 91,000.