Guideline Value for Bharat Nagar Extn.

Bharat Nagar Extn. guideline value

The current guideline value of Bharat Nagar Extn., located in Padiyanallur village under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Bharat Nagar Extn. has changed

The guideline value for Bharat Nagar Extn. has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 42 per sq.ft. It increased significantly to Rs 300 per sq.ft in 2007, marking a 614% rise. In 2012, the value remained at Rs 600 per sq.ft, but then dropped to Rs 402 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision set the value at Rs 600 per sq.ft, which then increased by 10% to reach the current value of Rs 660 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 1,471%. The register has no figure for this street in the year 2002.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value for Bharat Nagar Extn. is below this median.

• Bhavani Amman Koil Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Bharath Nagar: Rs 770 per sq.ft (2024)
• Bhavani Nagar: Rs 770 per sq.ft (2024)
• Bharathi Nagar: Rs 770 per sq.ft (2024)
• Bharathidasan Street: Rs 770 per sq.ft (2024)
• Bharathiar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Bharat Nagar Extn.

For a 1,000 sq.ft plot at the current rate of Rs 660 per sq.ft, the guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. 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 Bharat Nagar Extn.?

The Bharat Nagar Extn. falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Padiyanallur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value will be referenced to determine the applicable charges. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Bharat Nagar Extn.?

The current guideline value of Bharat Nagar Extn. is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 42 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 1,471% over that period.

What are the other streets in Padiyanallur with their guideline values?

Other streets in Padiyanallur have guideline values ranging from Rs 385 to Rs 2,750 per sq.ft, with several streets listed at Rs 770 per sq.ft in 2024.

What fees are associated with property transactions in Bharat Nagar Extn.?

Property transactions in Bharat Nagar Extn. incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bharat Nagar Extn.?

The Sub Registrar Office covering Bharat Nagar Extn. is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.