Guideline Value for Bharathi Nagar 2nd Street

Bharathi Nagar 2nd Street guideline value

The current guideline value of Bharathi Nagar 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is 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 earliest recorded revision was in 2007, when the 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, the value then dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The most recent revision in 2024 saw the guideline value rise again to Rs 3,300 per sq.ft, which represents a 64% increase from 2017. Overall, from 2007 to 2024, there has been a 230% increase in the guideline value.

It is important to note that there are no figures available for Bharathi Nagar 2nd Street for the years 2023, 2003, and 2002.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, 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 the same as the current value for Bharathi Nagar 2nd Street.

• Bharathi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar 1st 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 2nd 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. Together, these would total 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 2nd Street?

The Sub Registrar Office that covers Bharathi Nagar 2nd 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 is a crucial factor in property transactions in Kolathur, as it is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any legal complications during the registration process.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. 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 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking a total increase of 230% over the years.

What are the stamp duty and registration fees for property in Bharathi Nagar 2nd Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot at the current rate, the total fees would be Rs 2,97,000.

Which Sub Registrar Office covers this street?

The Sembiam Sub Registrar Office covers Bharathi Nagar 2nd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

Are there other streets in Kolathur with the same guideline value?

Yes, there are several other streets in Kolathur that have the same guideline value of Rs 3,300 per sq.ft as Bharathi Nagar 2nd Street.