Guideline Value for Bharath Nagar

Bharath Nagar guideline value

The current guideline value of Bharath Nagar, located in Selaiyur village under the Selaiyur SRO, is Rs 850 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class V 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 the 2007 revision, the value was set at Rs 600 per sq.ft. This increased to Rs 800 per sq.ft in the 2012 revision, but then decreased to Rs 536 per sq.ft in 2017. Following this, the value rose significantly to Rs 800 per sq.ft in the 2023 revision, and currently stands at Rs 850 per sq.ft as of the 2024 revision, marking a 6% increase from the previous year.

Between the revisions, the most notable change occurred from 2017 to 2023, where the value increased by 49%. The overall change from 2007 to 2024 reflects a 42% increase. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value in this area is Rs 2,200 per sq.ft, indicating that the guideline value for Bharath Nagar is below this median.

• Bharath Nagar (Gangai Amman Koil Street): Rs 1,800 per sq.ft (2024)
• Bharatwajar Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar Street: Rs 850 per sq.ft (2024)
• Bhavani Nagar: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar Pallikuda Street: Rs 1,800 per sq.ft (2024)
• Bharathi Nagar Palayathan Street: Rs 1,800 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 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total cost for these fees to Rs 76,500. 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 further calculations.

Which Sub Registrar Office covers Bharath Nagar?

The Sub Registrar Office that covers Bharath Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Selaiyur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid. This ensures that the transaction is recorded accurately and legally.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. The guideline value serves as a benchmark for property transactions, ensuring transparency and consistency in the real estate market.

Frequently asked questions

What is the current guideline value of Bharath Nagar?

The current guideline value of Bharath Nagar is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 600 per sq.ft in 2007, increasing to Rs 800 in 2012, dropping to Rs 536 in 2017, and rising again to Rs 800 in 2023, with the latest value being Rs 850 in 2024.

What is the land classification of Bharath Nagar?

Bharath Nagar is classified as Residential Class V Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 76,500.

Where is the Sub Registrar Office for Bharath Nagar located?

The Sub Registrar Office for Bharath Nagar is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.