Guideline Value for Bharani Nagar

Bharani Nagar guideline value

The current guideline value of Bharani Nagar is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Vilangadupakkam village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bharani Nagar has changed

The guideline value for Bharani Nagar has seen several revisions over the years. In 2003, the value was Rs 29 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2007. The value then doubled to Rs 400 per sq.ft in 2012. However, it decreased to Rs 268 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 400 per sq.ft, and the latest revision in 2024 set it at Rs 440 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1,417%. The register does not provide figures for the year 2002 for this street.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft. The median value is Rs 440 per sq.ft, which is equal to the guideline value of Bharani Nagar.

• Boopalan Nagar: Rs 440 per sq.ft (2024)
• Bose Nagar: Rs 440 per sq.ft (2024)
• Bose Nagar Annex: Rs 440 per sq.ft (2024)
• Balaji Nagar: Rs 770 per sq.ft (2024)
• Astalakshmi Nagar: Rs 770 per sq.ft (2024)
• A S Avenue: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Bharani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total fees Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharani Nagar?

The Sub Registrar Office that covers Bharani Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Vilangadupakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately determining the costs involved in property transactions.

Frequently asked questions

What is the current guideline value of Bharani Nagar?

The current guideline value of Bharani Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 29 per sq.ft in 2003 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 1,417% over this period.

What are the other streets in Vilangadupakkam with the same guideline value?

Other streets in Vilangadupakkam with the same guideline value of Rs 440 per sq.ft include Boopalan Nagar, Bose Nagar, Bose Nagar Annex, and A S Avenue.

How is the stamp duty calculated for properties in Bharani Nagar?

Stamp duty for properties in Bharani Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 30,800.

Which office handles property registrations in Bharani Nagar?

The Redhills Sub Registrar Office handles property registrations in Bharani Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.