Guideline Value for Bharathi Nagar (NP)

Bharathi Nagar (NP) guideline value

The current guideline value of Bharathi Nagar (NP) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - III.

How the guideline value of Bharathi Nagar (NP) has changed

The guideline value for Bharathi Nagar (NP) has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 620 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, followed by a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the most recent revision in 2024 set it at Rs 2,700 per sq.ft, marking an increase of 8% from the previous year. The overall change from 2007 to 2024 reflects a substantial increase of 335%.

There are no figures available for the years 2002 and 2003 in the register for this street. The changes between the revisions are notable, with a 303% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017, and a significant rise of 49% from 2017 to 2023.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. Bharathi Nagar (NP) is below this median value.

• Bharathi Nagar Main Road (NP): Rs 2,700 per sq.ft (2024)
• Bharathipuram: Rs 3,300 per sq.ft (2024)
• Bharathi Street (JPT) Pari Nagar: Rs 4,400 per sq.ft (2024)
• Bharathi Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Bharathi Street (W.M): Rs 5,500 per sq.ft (2024)
• Bharathiyar 8th St (Kanu Nagar) NP: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar (NP)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar (NP)?

The Sub Registrar Office that covers Bharathi Nagar (NP) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during property registration in Kodambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives its due revenue from property transactions.

When buying or selling property, the guideline value helps determine the minimum value at which a property can be registered. Buyers must be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Bharathi Nagar (NP)?

The current guideline value of Bharathi Nagar (NP) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 620 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 335% over the years.

What is the registration office for Bharathi Nagar (NP)?

The registration office for Bharathi Nagar (NP) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees in Bharathi Nagar (NP)?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the property is registered at a fair value, which is either the guideline value or the sale price, whichever is higher.