Guideline Value for Bharathi Nagar 7th Street

Bharathi Nagar 7th Street guideline value

The current guideline value of Bharathi Nagar 7th Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bharathi Nagar 7th Street has changed

The guideline value for Bharathi Nagar 7th Street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 2,200 per sq.ft. This was followed by a decrease to Rs 1,474 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 2,400 per sq.ft, marking a 63% rise from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 9%.

It is important to note that there are no recorded figures for Bharathi Nagar 7th Street in the revisions for the years 2002, 2003, 2007, and 2023. This means that the guideline values for these years are not available in the register.

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 guideline value for these streets is Rs 2,400 per sq.ft, which is equal to the current guideline value of Bharathi Nagar 7th Street.

• Bharathi Nagar 8th Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 6th Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 5th Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 4th Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar Extension: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 3rd Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total cost to Rs 2,16,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar 7th Street?

The Sub Registrar Office that covers Bharathi Nagar 7th Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which property transactions must be registered. This ensures that the government receives appropriate revenue through stamp duty and registration fees based on the guideline value.

When a buyer purchases property, they must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This system helps maintain transparency and fairness in property transactions, ensuring that all parties are aware of the value being registered.

Frequently asked questions

What is the current guideline value of Bharathi Nagar 7th Street?

The current guideline value of Bharathi Nagar 7th 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. Overall, from 2012 to 2024, the guideline value has increased by 9%.

What is the land classification for Bharathi Nagar 7th Street?

Bharathi Nagar 7th Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 24,00,000, the stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers this area?

The Ambattur Sub Registrar Office covers Bharathi Nagar 7th Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.