Guideline Value for Bharath Nagar

Bharath Nagar guideline value

The current guideline value of Bharath Nagar, located in Kovilpathagai village under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bharath Nagar has changed

The guideline value for Bharath Nagar has undergone several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This figure then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and then further rose to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2024, the overall change in the guideline value is a modest increase of 10%. The most notable change occurred between 2017 and 2023, where the value increased by 49%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO, with 2024 guideline values ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, making Bharath Nagar's 2024 figure of Rs 1,100 per sq.ft above the median.

• Bhavanar Street: Rs 880 per sq.ft (2024)
• Bharathi Street: Rs 1,100 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 807 per sq.ft (2024)
• Bhuvaneswari Street: Rs 880 per sq.ft (2024)
• Bible Street: Rs 880 per sq.ft (2024)
• Bharathi Nagar Extensition: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bharath Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, while the registration fee at 2% would be Rs 22,000. Together, the total cost for these fees would be Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharath Nagar?

The Sub Registrar Office that covers Bharath Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kovilpathagai. It is used to determine the stamp duty and registration fees when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives appropriate revenue from property transactions.

When registering a property, the guideline value helps both buyers and sellers understand the official valuation of the property, which is essential for legal and financial purposes. It serves as a benchmark for property transactions in the area.

Frequently asked questions

What is the current guideline value of Bharath Nagar?

The current guideline value of Bharath Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification for Bharath Nagar?

The land classification for Bharath Nagar is Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Bharath Nagar?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Bharath Nagar?

The Ambattur Sub Registrar Office covers Bharath Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.