Guideline Value for Bharathi Nagar ( Ward No.26 )

Bharathi Nagar ( Ward No.26 ) guideline value

The current guideline value of Bharathi Nagar (Ward No.26) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is part of Madhavaram village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Bharathi Nagar ( Ward No.26 ) has changed

The guideline value for Bharathi Nagar (Ward No.26) has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

There are no recorded figures for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is equal to the current guideline value of Bharathi Nagar (Ward No.26).

• Bharathi Nagar (Ward-23): Rs 1,600 per sq.ft (2024)
• Bharathi Nagar,Ponniammanmedu (Ward-24): Rs 1,600 per sq.ft (2024)
• Bharathi Nagar, Lakshmipuram (Ward-26): Rs 1,600 per sq.ft (2024)
• Bharathi Nagar Extension: Rs 1,600 per sq.ft (2024)
• Bharathiyar 2nd St. (Ward-15): Rs 1,600 per sq.ft (2024)
• Bharathiyar 4th Cross Street (Ward-15): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar ( Ward No.26 )

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total Rs 1,44,000. 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 Bharathi Nagar ( Ward No.26 )?

The Sub Registrar Office that covers Bharathi Nagar (Ward No.26) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar ( Ward No.26 )?

The current guideline value of Bharathi Nagar (Ward No.26) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, marking a total increase of 7% over this period.

What are the stamp duty and registration fees for properties in Bharathi Nagar ( Ward No.26 )?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,44,000.

Which Sub Registrar Office covers Bharathi Nagar ( Ward No.26 )?

The Madhavaram Sub Registrar Office covers Bharathi Nagar (Ward No.26), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Bharathi Nagar ( Ward No.26 )?

Bharathi Nagar (Ward No.26) is classified as Residential Class II Type - I, indicating its designation for residential use within the area.