Guideline Value for Bharathi Nagar Bhavani Street

Bharathi Nagar Bhavani Street guideline value

The current guideline value of Bharathi Nagar Bhavani Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tharamani village and falls under the Adayar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Bharathi Nagar Bhavani Street has changed

Over the years, the guideline value for Bharathi Nagar Bhavani Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in the 2023 revision, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from the 2012 revision to the 2024 revision is an increase of 10%, reflecting the current guideline value of Rs 2,200 per sq.ft.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, placing Bharathi Nagar Bhavani Street's current value below that median.

• Bharathi Nagar Gangai Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Gothavari Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Kaveri Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Ponni Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Saraswathi Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Thamirabarani Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Bhavani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It's 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 Bhavani Street?

The Sub Registrar Office that covers Bharathi Nagar Bhavani Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process of property transactions in Tharamani. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and 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 Bhavani Street?

The current guideline value of Bharathi Nagar Bhavani Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of 2024.

What is the land classification for Bharathi Nagar Bhavani Street?

The land classification for Bharathi Nagar Bhavani Street is Residential Class III Type - I.

Which office handles registrations for properties in this area?

The Adayar Sub Registrar Office handles registrations for properties in Bharathi Nagar Bhavani Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. The duty is charged on the higher of the guideline value or the sale price.