Guideline Value for Bharathi Nagar Ext

Bharathi Nagar Ext guideline value

The current guideline value of Bharathi Nagar Ext, located in Pulikoradu village under the Tambaram Joint 1 SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Bharathi Nagar Ext has changed

The guideline value for Bharathi Nagar Ext has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pulikoradu

In Pulikoradu, there are 62 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Bharathi Nagar Ext above this median.

• Bharathi Nagar: Rs 1,650 per sq.ft (2024)
• Bharathiyar Street: Rs 880 per sq.ft (2024)
• Burma Colony: Rs 880 per sq.ft (2024)
• Burma colony 1st nagar: Rs 880 per sq.ft (2024)
• Burma colony 2nd nagar: Rs 880 per sq.ft (2024)
• Burma colony 3rd nagar: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar Ext?

The Bharathi Nagar Ext area is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pulikoradu. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is bought or sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Ext?

The current guideline value of Bharathi Nagar Ext is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification for Bharathi Nagar Ext?

Bharathi Nagar Ext is classified as Residential Class I Type - III, indicating its suitability for residential development.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 16,50,000, the total stamp duty and registration fees would amount to Rs 1,48,500.

Which office handles property registrations for Bharathi Nagar Ext?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Bharathi Nagar Ext, located at No.26, Mes Road, East Tambaram, Chennai-600059.