Guideline Value for Bharathi Nagar 1st Street

Bharathi Nagar 1st Street guideline value

The current guideline value of Bharathi Nagar 1st Street is Rs 3,550 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Bharathi Nagar 1st Street has changed

The guideline value for Bharathi Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,200 per sq.ft, which was later revised to Rs 2,144 per sq.ft in 2017, marking a decrease of 33%. Following this, the 2023 revision increased the value to Rs 3,200 per sq.ft, and the most recent 2024 revision has set the guideline value at Rs 3,550 per sq.ft, reflecting an increase of 11% from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 11%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO, with guideline values ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 3,100 per sq.ft, placing Bharathi Nagar 1st Street's 2024 figure above that median.

• Bharathi Nagar 2nd Street: Rs 3,550 per sq.ft (2024)
• Bharathi Nagar Main Road: Rs 3,550 per sq.ft (2024)
• Bharathi Road: Rs 3,550 per sq.ft (2024)
• Bharathi Salai: Rs 3,550 per sq.ft (2024)
• Bhakyalakshmi Nagar 4th Street: Rs 3,100 per sq.ft (2024)
• Bhakyalakshmi Nagar 3rd Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,550 per sq.ft, the total guideline value amounts to Rs 35,50,000. The stamp duty, charged at 7%, would be Rs 2,48,500, and the registration fee at 2% would be Rs 71,000, bringing the total cost for these fees to Rs 3,19,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bharathi Nagar 1st Street?

The Sub Registrar Office that covers Bharathi Nagar 1st Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing the legal value of the property, which can influence negotiations and final sale agreements. Buyers and sellers should be aware of the current guideline value to make informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar 1st Street?

The current guideline value of Bharathi Nagar 1st Street is Rs 3,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then back to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,550 per sq.ft in 2024.

What is the median guideline value in Ramapuram?

The median guideline value in Ramapuram is Rs 3,100 per sq.ft, with Bharathi Nagar 1st Street's 2024 figure being above this median.

What are the stamp duty and registration fees for properties in Bharathi Nagar 1st Street?

The stamp duty is charged at 7% and the registration fee at 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 3,19,500.

Which office handles registrations for Bharathi Nagar 1st Street?

The registrations for Bharathi Nagar 1st Street are handled by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.