Guideline Value for Bharathi Nagar 2nd Street

Bharathi Nagar 2nd Street guideline value

The current guideline value of Bharathi Nagar 2nd Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class I Type - I.

How the guideline value of Bharathi Nagar 2nd Street has changed

The guideline value for Bharathi Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which was followed by a decrease to Rs 1,474 per sq.ft in the 2017 revision. However, the most recent 2024 revision saw a significant increase to Rs 2,400 per sq.ft, marking a 63% rise from 2017. Overall, from the 2012 to the 2024 revision, there has been a slight increase of 9%.

It is important to note that there are no figures available for the guideline value of this street for the years 2002, 2003, 2007, and 2023.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median value is Rs 2,400 per sq.ft, which aligns with the current guideline value of Bharathi Nagar 2nd Street.

• Bharathi Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 3rd Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 4th Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 5th Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 6th Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 7th Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 24,00,000. The stamp duty at 7% amounts to Rs 1,68,000, and the registration fee at 2% is Rs 48,000, totaling Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar 2nd Street?

The Bharathi Nagar 2nd Street falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

When a property is sold, the buyer and seller must consider the guideline value to calculate applicable fees such as stamp duty and registration charges. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the state receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar 2nd Street?

The current guideline value of Bharathi Nagar 2nd Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, and then increased to Rs 2,400 per sq.ft in 2024.

What is the land classification of Bharathi Nagar 2nd Street?

Bharathi Nagar 2nd Street is classified as Residential Class I Type - I.

Which Sub Registrar Office covers this area?

The Ambattur Sub Registrar Office covers Bharathi Nagar 2nd Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,68,000.