Guideline Value for Bharath Nagar

Bharath Nagar guideline value

The current guideline value of Bharath Nagar, located in Menambedu village under the Ambattur SRO, is Rs 1,001 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Bharath Nagar has changed

The guideline value for Bharath Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which then decreased to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and finally reached Rs 1,001 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 87%. Overall, the guideline value has increased by 25% from the 2012 revision to the current value in 2024.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value in this area is Rs 1,003 per sq.ft, indicating that Bharath Nagar's 2024 figure is below this median.

• Bharath Nagar Ext.: Rs 1,001 per sq.ft (2024)
• Bharathiyar Street(Arumuga Nagar): Rs 1,700 per sq.ft (2024)
• Bharathi Street: Rs 1,700 per sq.ft (2024)
• Chandiran Mesthiri Street: Rs 1,000 per sq.ft (2024)
• Banu Street: Rs 1,700 per sq.ft (2024)
• Bala Vinayagar Koil Street: Rs 1,700 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 1,001 per sq.ft, the total guideline value amounts to Rs 10,01,000. The stamp duty at 7% would be Rs 70,070, and the registration fee at 2% would be Rs 20,020, bringing the total cost for these fees to Rs 90,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharath Nagar?

Bharath Nagar falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharath Nagar?

The current guideline value of Bharath Nagar is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,001 per sq.ft in 2024.

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

For a property of 1,000 sq.ft at the current guideline value, the total guideline value is Rs 10,01,000. The stamp duty is Rs 70,070, and the registration fee is Rs 20,020, totaling Rs 90,090.

Which office handles property registrations in Bharath Nagar?

The Ambattur Sub Registrar Office handles property registrations in Bharath Nagar. It is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

What is the land classification for Bharath Nagar?

Bharath Nagar is classified as Residential Class IV Type - I, which indicates its designation for residential use.