Guideline Value for Bharathi Nagar Extension

Bharathi Nagar Extension guideline value

The current guideline value of Bharathi Nagar Extension is Rs 1,400 per sq.ft, effective from 1 July 2024. This area is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bharathi Nagar Extension has changed

The guideline value for Bharathi Nagar Extension has seen several revisions over the years. Starting with the 2007 revision, the value was set at Rs 600 per sq.ft. This increased significantly to Rs 1,300 per sq.ft in 2012, marking a rise of 117%. However, the value decreased to Rs 871 per sq.ft in the 2017 revision, a decline of 33%. The value then rose sharply to Rs 1,300 per sq.ft in 2023, followed by a further increase to Rs 1,400 per sq.ft in 2024, which is an 8% rise.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 133%. It is worth noting that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Bharathi Nagar Extension's 2024 guideline value below this median.

• Bharathi Nagar Bajanai Koil Street: Rs 1,800 per sq.ft (2024)
• Bharathi Nagar Mada Koil Street: Rs 1,800 per sq.ft (2024)
• Bharathi Nagar Palayathan Street: Rs 1,800 per sq.ft (2024)
• Bharathi Nagar Pallikuda Street: Rs 1,800 per sq.ft (2024)
• Bharathiyar Street: Rs 850 per sq.ft (2024)
• Bharath Nagar: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total amount to Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar Extension?

The Sub Registrar Office covering Bharathi Nagar Extension is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value is a crucial factor during property transactions in Selaiyur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The authorities rely on the guideline value to ensure that the transaction is registered at a fair value, preventing undervaluation.

When a buyer or seller approaches the Sub Registrar Office, they must provide the guideline value along with the sale price. The higher of the two values will be considered for calculating the applicable duties and fees, ensuring compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Extension?

The current guideline value of Bharathi Nagar Extension is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, marking an overall increase of 133% over the years.

What are the other streets in Selaiyur and their guideline values?

Other streets in Selaiyur include Bharathi Nagar Bajanai Koil Street, Bharathi Nagar Mada Koil Street, Bharathi Nagar Palayathan Street, and Bharathi Nagar Pallikuda Street, all valued at Rs 1,800 per sq.ft in 2024. Bharathiyar Street and Bharath Nagar are valued at Rs 850 per sq.ft.

What fees are associated with buying property in Bharathi Nagar Extension?

The fees include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,26,000.

Where can I find the Sub Registrar Office for Bharathi Nagar Extension?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more information by visiting the provided link.