Guideline Value for Bharath Nagar

Bharath Nagar guideline value

The current guideline value of Bharath Nagar, located in Atanancheri village under the Gooduvancheri SRO, is Rs 700 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification.

How the guideline value of Bharath Nagar has changed

Looking back at the revisions, the guideline value for Bharath Nagar was Rs 700 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision. Prior to that, in the 2017 revision, the guideline value was Rs 469 per sq.ft, marking a significant increase of 49% from 2017 to 2023. The 2012 revision also recorded a guideline value of Rs 700 per sq.ft, indicating a decrease of 33% from the 2012 figure to the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 700 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Atanancheri

In Atanancheri, there are 83 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 700 per sq.ft. Bharath Nagar's 2024 guideline value is equal to this median.

• Chidambaram Nagar: Rs 800 per sq.ft (2024)
• Chitra Nagar: Rs 700 per sq.ft (2024)
• A.V.Nagar: Rs 600 per sq.ft (2024)
• Au Mit Nagar Phase - V: Rs 1,000 per sq.ft (2024)
• Au Mit Nagar Phase -IV: Rs 1,000 per sq.ft (2024)
• Au Mit Nagar Phase III: Rs 1,000 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bharath Nagar?

The Sub Registrar Office that covers Bharath Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Atanancheri. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is assessed to ensure that the correct fees are levied. This means that both buyers and sellers must be aware of the current guideline value to understand their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Bharath Nagar?

The current guideline value of Bharath Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 700 per sq.ft from 2012 to 2024, while it increased from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2023. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Bharath Nagar?

Bharath Nagar falls under the Residential Special Type - II land classification. This classification is important for determining the appropriate uses for the land.

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

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Bharath Nagar?

The Gooduvancheri Sub Registrar Office handles the registration for Bharath Nagar. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.