Guideline Value for Bharathi Nagar Annex 1

Bharathi Nagar Annex 1 guideline value

The current guideline value of Bharathi Nagar Annex 1 is Rs 385 per sq.ft, effective from 1 July 2024. This area is located in Boodur village under the Redhills Sub Registrar Office (SRO). The land classification for this property is Residential Class I Type - I.

How the guideline value of Bharathi Nagar Annex 1 has changed

The guideline value for Bharathi Nagar Annex 1 has changed over the years, with the earliest recorded figure being Rs 350 per sq.ft in 2012. This was followed by a decrease to Rs 234 per sq.ft in 2017, and then an increase to Rs 350 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 385 per sq.ft, reflecting a 10% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it saw a significant increase of 50%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Boodur

Boodur village has 15 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 257 to Rs 1,150 per sq.ft. The median value of these streets is Rs 385 per sq.ft, which is equal to the guideline value of Bharathi Nagar Annex 1.

• Boodhur Baba Garden: Rs 385 per sq.ft (2024)
• Boodhur Baba Nagar: Rs 385 per sq.ft (2024)
• Boodur Gopala Puram: Rs 385 per sq.ft (2024)
• Bagavathi Nagar: Rs 385 per sq.ft (2024)
• Anbu Nagar: Rs 257 per sq.ft (2024)
• Golden Avenue: Rs 385 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Annex 1

For a 1,000 sq.ft plot at the current guideline value of Rs 385 per sq.ft, the total guideline value would be Rs 3,85,000. The stamp duty at 7% would amount to Rs 26,950, and the registration fee at 2% would be Rs 7,700, making the total cost for these fees Rs 34,650. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar Annex 1?

The Bharathi Nagar Annex 1 property falls under the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Boodur, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved. It is essential to check the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Annex 1?

The current guideline value of Bharathi Nagar Annex 1 is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, then back to Rs 350 per sq.ft in 2023, and finally to Rs 385 per sq.ft in 2024.

What is the land classification for Bharathi Nagar Annex 1?

The land classification for Bharathi Nagar Annex 1 is Residential Class I Type - I.

What other streets in Boodur have the same guideline value?

Other streets in Boodur that share the same guideline value of Rs 385 per sq.ft include Boodhur Baba Garden, Boodhur Baba Nagar, Boodur Gopala Puram, Bagavathi Nagar, and Golden Avenue.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.