Guideline Value for Bharathi Nagar 1stStreet

Bharathi Nagar 1stStreet guideline value

The current guideline value of Bharathi Nagar 1stStreet is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO and is classified as Residential Special Type - I.

How the guideline value of Bharathi Nagar 1stStreet has changed

The guideline value for Bharathi Nagar 1stStreet has undergone several revisions over the years. The 2012 revision set the value at Rs 3,600 per sq.ft, which was then reduced to Rs 2,412 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 3,600 per sq.ft, and the most recent 2024 revision raised it further to Rs 3,960 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 reflects a 10% increase, bringing the current value in line with the median guideline value for the area.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO, with guideline values ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median guideline value is Rs 3,960 per sq.ft, which matches the current value for Bharathi Nagar 1stStreet.

• Bharathi Nagar 2nd Street: Rs 3,960 per sq.ft (2024)
• Bharathi Nagar: Rs 3,960 per sq.ft (2024)
• Bell Nagar: Rs 3,520 per sq.ft (2024)
• Batrachalam Street: Rs 3,520 per sq.ft (2024)
• Bathrachalam Cross Street: Rs 3,520 per sq.ft (2024)
• Balamurugan Nagar - Ranganathan Street: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar 1stStreet

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar 1stStreet?

The Sub Registrar Office that covers Bharathi Nagar 1stStreet is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process when buying or selling property in Porur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that both parties are aware of the financial implications involved in the transaction.

When a property is registered, the guideline value is used to determine the applicable fees, which can significantly influence the overall cost of the transaction. Buyers and sellers should be well-informed about the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar 1stStreet?

The current guideline value of Bharathi Nagar 1stStreet is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2012 to Rs 2,412 per sq.ft in 2017, then back to Rs 3,600 per sq.ft in 2023, and currently stands at Rs 3,960 per sq.ft in 2024.

What is the land classification for Bharathi Nagar 1stStreet?

Bharathi Nagar 1stStreet is classified as Residential Special Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200 and the registration fee would be Rs 79,200, totaling Rs 3,56,400.

Where can I find the Sub Registrar Office for Bharathi Nagar 1stStreet?

The Kunrathur Sub Registrar Office covers Bharathi Nagar 1stStreet and is located at No.59, Road Street, Kundrathur, Chennai -600 069.