Guideline Value for Bharathi Nagar (Ward-23)

Bharathi Nagar (Ward-23) guideline value

The current guideline value of Bharathi Nagar (Ward-23) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bharathi Nagar (Ward-23) has changed

Looking at the historical revisions, the guideline value for Bharathi Nagar (Ward-23) was Rs 1,500 per sq.ft in 2012 and remained the same until the 2023 revision. In 2023, the value increased to Rs 1,500 per sq.ft, and then it saw a rise of 7% to reach Rs 1,600 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 7%. The changes from the previous revisions highlight a steady growth leading up to the current value.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, which is the same as the 2024 figure for Bharathi Nagar (Ward-23).

• Bharathi Nagar (Ward No.26): 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-23)

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to 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. 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 (Ward-23)?

The Sub Registrar Office that covers Bharathi Nagar (Ward-23) 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 a crucial factor during property registration as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal issues during the transaction.

When buying or selling property in Madhavaram, it is essential to be aware of the current guideline value to accurately assess costs associated with registration. This ensures that all parties involved in the transaction are informed and can plan their finances accordingly.

Frequently asked questions

What is the current guideline value of Bharathi Nagar (Ward-23)?

The current guideline value of Bharathi Nagar (Ward-23) 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, reflecting a 7% increase over this period.

What are the stamp duty and registration fees for properties in Bharathi Nagar (Ward-23)?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office is responsible for Bharathi Nagar (Ward-23)?

The Madhavaram Sub Registrar Office is responsible for Bharathi Nagar (Ward-23), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Bharathi Nagar (Ward-23)?

Bharathi Nagar (Ward-23) is classified as Residential Class II Type - I, indicating its suitability for residential development.