Guideline Value for Bharathi Nagar Extension

Bharathi Nagar Extension guideline value

The current guideline value of Bharathi Nagar Extension, located in Thirumullaivoyal village under the Ambattur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Bharathi Nagar Extension has changed

The guideline value for Bharathi Nagar Extension has seen significant changes over the years. Starting from Rs 136 per sq.ft in 2002, it increased to Rs 165 per sq.ft in 2003, marking a 21% rise. The value further rose to Rs 200 per sq.ft in 2007, an increase of 21%. The 2012 revision set the value at Rs 2,200 per sq.ft, reflecting a substantial increase of 1,000% from 2007. However, the value decreased to Rs 1,474 per sq.ft in 2017, a drop of 33%.

In the most recent revision, the guideline value surged to Rs 2,400 per sq.ft in 2024, which is a 63% increase from the 2017 figure. Overall, from 2002 to 2024, the guideline value has increased by 1,665%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, which is the same as the guideline value for Bharathi Nagar Extension. Below are other streets in Thirumullaivoyal:

• Bharathi Nagar 8th Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 7th Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 6th Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 5th Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 4th Street: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar 3rd Street: Rs 2,400 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 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making the total cost for these fees Rs 2,16,000. 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 Extension?

The Bharathi Nagar Extension falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Thirumullaivoyal. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, which are essential for legal documentation.

It is important for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate the costs associated with property transactions. This helps in avoiding any potential legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Extension?

The current guideline value of Bharathi Nagar Extension is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 136 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, marking an overall increase of 1,665%.

What is the land classification for Bharathi Nagar Extension?

Bharathi Nagar Extension is classified as Residential Class I Type - I.

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

When buying property, buyers should be prepared to pay stamp duty and registration fees based on the guideline value. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 2,16,000.

Which office handles property registration for Bharathi Nagar Extension?

The Ambattur Sub Registrar Office handles property registration for Bharathi Nagar Extension, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.