Guideline Value for Bharathi Nagar East Main Road

Bharathi Nagar East Main Road guideline value

The current guideline value of Bharathi Nagar East Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Bharathi Nagar East Main Road has changed

The guideline value for Bharathi Nagar East Main Road has undergone several revisions over the years. In the 2007 revision, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 3,300 per sq.ft, reflecting a substantial increase of 64% from the 2017 figure. It is important to note that the register has no figures for the years 2023, 2003, and 2002 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. This indicates a significant change in the valuation of properties on Bharathi Nagar East Main Road over the years.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a guideline value for 2024, 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 equal to the current guideline value of Bharathi Nagar East Main Road.

• Bharathi Nagar Extension: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Bharathi Street: Rs 3,300 per sq.ft (2024)
• Bharathiyar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar East Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, leading to a total of 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. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar East Main Road?

The Sub Registrar Office that covers Bharathi Nagar East Main Road 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 the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately for taxation and legal purposes.

When a buyer or seller engages in a property transaction, the guideline value helps in calculating the stamp duty and registration fees. This ensures transparency and compliance with local regulations, as the fees are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Bharathi Nagar East Main Road?

The current guideline value of Bharathi Nagar East Main Road 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 significantly, from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

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

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registration for Bharathi Nagar East Main Road?

The Sembiam Sub Registrar Office handles property registration for Bharathi Nagar East Main Road, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Bharathi Nagar East Main Road?

Bharathi Nagar East Main Road is classified as Residential Class I Type - I, indicating its suitability for residential development.