Guideline Value for Bharathi Nagar 1st Street

Bharathi Nagar 1st Street guideline value

The current guideline value of Bharathi Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, and it falls under the Residential Class I Type - I land classification.

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

The guideline value for Bharathi Nagar 1st Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, it decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which represents a 64% increase from the 2017 figure.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The register has no figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Bharathi Nagar 1st Street.

• Bharathi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar East Main Road: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar Extension: Rs 3,300 per sq.ft (2024)
• Bharathi Street: Rs 3,300 per sq.ft (2024)
• Bharathiar 3rd Street: Rs 3,300 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total amount Rs 2,97,000. 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 more details.

Which Sub Registrar Office covers Bharathi Nagar 1st Street?

The Sub Registrar Office that covers Bharathi Nagar 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Kolathur. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded accurately and complies with the regulations set by the government.

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 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,000 per sq.ft to Rs 3,300 per sq.ft in 2024, representing an overall increase of 230%.

What is the land classification for Bharathi Nagar 1st Street?

Bharathi Nagar 1st Street falls under the Residential Class I Type - I land classification.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Bharathi Nagar 1st Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property, the total stamp duty would be Rs 2,31,000 based on the current guideline value.