Guideline Value for Bharathi Nagar Extention

Bharathi Nagar Extention guideline value

The current guideline value of Bharathi Nagar Extention is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Kannampalayam village and falls under the Kunrathur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Bharathi Nagar Extention has changed

The guideline value for Bharathi Nagar Extention has undergone several revisions over the years. In 2012, the guideline value was Rs 800 per sq.ft. This figure decreased to Rs 536 per sq.ft in 2017. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and further rose to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the value saw a decrease of 33%. However, from 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kannampalayam

In Kannampalayam, there are 75 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 765 to Rs 4,000 per sq.ft, with a median value of Rs 1,375 per sq.ft. The guideline value of Bharathi Nagar Extention is below this median.

• Bharathi Gardan: Rs 880 per sq.ft (2024)
• Blossom Rich: Rs 1,376 per sq.ft (2024)
• Chendur Garden: Rs 1,650 per sq.ft (2024)
• Athiya Villa "sri Ambal Garden": Rs 2,955 per sq.ft (2024)
• Ashok Nandhavanam Phase III: Rs 1,375 per sq.ft (2024)
• Ashok Nandhavanam Phase II: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Extention

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar Extention?

The Bharathi Nagar Extention is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kannampalayam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Extention?

The current guideline value of Bharathi Nagar Extention is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Bharathi Nagar Extention?

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

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Bharathi Nagar Extention?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a property valued at Rs 8,80,000 would incur a stamp duty of Rs 61,600 at 7%.