Guideline Value for Bharathi Nagar 2nd Street

Bharathi Nagar 2nd Street guideline value

The current guideline value of Bharathi Nagar 2nd Street is Rs 3,960 per sq.ft. 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 2nd Street has changed

The guideline value for Bharathi Nagar 2nd Street has undergone several revisions over the years. In 2012, the value was set at Rs 3,600 per sq.ft, which then decreased to Rs 2,412 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,600 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 3,960 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft. The median value for these streets is Rs 3,960 per sq.ft, which is equal to the guideline value of Bharathi Nagar 2nd Street.

• Bharathi Nagar 1stStreet: 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be 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.

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

Which Sub Registrar Office covers Bharathi Nagar 2nd Street?

The Bharathi Nagar 2nd Street falls under the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

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

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate 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 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 2023 to Rs 3,960 per sq.ft in 2024, marking a 10% increase. It was Rs 2,412 per sq.ft in 2017 and Rs 3,600 per sq.ft in 2012.

What are the other streets in Porur with similar guideline values?

Other streets in Porur with a guideline value of Rs 3,960 per sq.ft include Bharathi Nagar 1st Street and Balamurugan Nagar - Ranganathan Street. Other streets like Bell Nagar and Batrachalam Street have a guideline value of Rs 3,520 per sq.ft.

What is the stamp duty for property in Bharathi Nagar 2nd Street?

The stamp duty for property in Bharathi Nagar 2nd Street is 7% of the guideline value. For a property valued at Rs 39,60,000, the stamp duty would be Rs 2,77,200.

Which Sub Registrar Office covers the registration for Bharathi Nagar 2nd Street?

The Kunrathur Sub Registrar Office covers the registration for Bharathi Nagar 2nd Street. The office is located at No.59, Road Street, Kundrathur, Chennai -600 069.