Guideline Value for Bharathi Nagar 8th Street

Bharathi Nagar 8th Street guideline value

The current guideline value of Bharathi Nagar 8th Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Bharathi Nagar 8th Street has changed

Over the years, the guideline value for Bharathi Nagar 8th Street has seen several revisions. The earliest recorded revision was in 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, from 2017 to 2024, the value increased significantly to Rs 2,400 per sq.ft, marking a 63% rise. Overall, from 2012 to 2024, there has been a slight increase of 9% in the guideline value.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2023 for Bharathi Nagar 8th Street. This lack of data means that the changes in guideline value during those years are not available for review.

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 the same as the current value for Bharathi Nagar 8th Street.

• Bharathi Nagar 7th 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 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total cost for these fees to Rs 2,16,000. It is essential 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 8th Street?

The Sub Registrar Office that covers Bharathi Nagar 8th Street is 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 property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Thirumullaivoyal, the guideline value serves as a reference point for calculating stamp duty and registration fees, ensuring that these costs are based on a fair assessment of the property's worth.

During the registration process, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are conducted transparently and in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Bharathi Nagar 8th Street?

The current guideline value of Bharathi Nagar 8th 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 for Bharathi Nagar 8th Street 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. This shows a significant increase of 63% from 2017 to 2024.

What is the land classification for Bharathi Nagar 8th Street?

Bharathi Nagar 8th Street is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Which Sub Registrar Office covers this area?

The Ambattur Sub Registrar Office covers Bharathi Nagar 8th 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 Bharathi Nagar 8th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty at 7% would be Rs 1,68,000.