Guideline Value for Bharathi Nagar Extensition

Bharathi Nagar Extensition guideline value

The current guideline value of Bharathi Nagar Extensition is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Kovilpathagai village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bharathi Nagar Extensition has changed

The guideline value for Bharathi Nagar Extensition has seen several revisions over the years. Starting from the 2012 revision, the value was Rs 1,000 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 670 per sq.ft. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the most recent 2024 revision has set it at Rs 1,100 per sq.ft.

In terms of percentage changes, the value increased by 10% from 2023 to 2024, while there was a significant increase of 49% from 2017 to 2023. However, from 2012 to 2017, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, making the current value of Bharathi Nagar Extensition above that median.

• Bharathi Street: Rs 1,100 per sq.ft (2024)
• Bharathi Nagar: Rs 1,100 per sq.ft (2024)
• Bharath Nagar: Rs 1,100 per sq.ft (2024)
• Bhavanar Street: Rs 880 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 807 per sq.ft (2024)
• Bhuvaneswari Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Extensition

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar Extensition?

The Sub Registrar Office that covers Bharathi Nagar Extensition is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the minimum price at which properties can be registered. This value is used to calculate the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, preventing undervaluation. This helps maintain transparency in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Extensition?

The current guideline value of Bharathi Nagar Extensition is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally reached Rs 1,100 per sq.ft in 2024.

What is the land classification for Bharathi Nagar Extensition?

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

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

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

How is the stamp duty calculated for property in Bharathi Nagar Extensition?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 at 7%, along with a registration fee of Rs 22,000 at 2%.