Guideline Value for Bharath Nagar

Bharath Nagar guideline value

The current guideline value of Bharath Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Bharath Nagar has changed

The guideline value for Bharath Nagar has seen several revisions over the years. In the 2007 revision, the value was Rs 120 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a remarkable rise of 650%. However, from 2012 to 2017, the value decreased to Rs 603 per sq.ft, a drop of 33%. The 2017 revision brought the value up to Rs 900 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 990 per sq.ft, representing a 10% increase from the previous year.

It is worth noting that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. Bharath Nagar's 2024 figure is below this median.

• Bharathvaj Nagar: Rs 1,320 per sq.ft (2024)
• Bhavani Nagar: Rs 1,100 per sq.ft (2024)
• Bhuvaneshwari Nagar: Rs 1,980 per sq.ft (2024)
• Bhuvaneshwari Nagar Extn: Rs 1,980 per sq.ft (2024)
• Bhaggyam Gopalakrishnan Nagar: Rs 2,960 per sq.ft (2024)
• Casa Grand: Rs 990 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 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, leading to a total of Rs 89,100. The duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharath Nagar?

The Sub Registrar Office that covers Bharath Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor during property transactions in Varadarajapuram. It is used to determine the stamp duty and registration fees that must be paid when registering a property. Buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction.

When a property is sold, the guideline value serves as a benchmark for the minimum price at which the property can be registered. 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 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 725% over the years.

What is the land classification of Bharath Nagar?

Bharath Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Bharath Nagar?

The Sub Registrar Office for Bharath Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Bharath Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 69,300.