Guideline Value for Bharathi Nagar Extetion - 1

Bharathi Nagar Extetion - 1 guideline value

The current guideline value of Bharathi Nagar Extetion - 1 is Rs 880 per sq.ft, effective from 1 July 2024. This property is located in Grandlyon village under the Redhills SRO, classified as Residential Special Type - I.

How the guideline value of Bharathi Nagar Extetion - 1 has changed

The guideline value for Bharathi Nagar Extetion - 1 has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 536 per sq.ft in 2017. The value saw a significant increase to Rs 800 per sq.ft in 2023, followed by a further rise to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. The overall change from 2007 to 2024 is an increase of 47%. It is important to note that the register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft, with a median value of Rs 660 per sq.ft. Bharathi Nagar Extetion - 1's 2024 guideline value is above this median.

• Bharathinagar Extn-II: Rs 440 per sq.ft (2024)
• Bharathi Nagar: Rs 660 per sq.ft (2024)
• Bharathi Avenue: Rs 440 per sq.ft (2024)
• Bharathiar Street: Rs 660 per sq.ft (2024)
• Buela Street: Rs 660 per sq.ft (2024)
• Chavadi Medu: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Extetion - 1

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

Which Sub Registrar Office covers Bharathi Nagar Extetion - 1?

The Sub Registrar Office that covers Bharathi Nagar Extetion - 1 is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a reference point used during the registration of property transactions in Grandlyon. It helps determine the stamp duty and registration fees applicable when buying or selling property.

When a property is registered, 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 collects the appropriate taxes based on the property's value.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Extetion - 1?

The current guideline value of Bharathi Nagar Extetion - 1 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 600 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, with various revisions in between. The most recent increase was a 10% rise from Rs 800 per sq.ft in 2023.

What is the land classification for Bharathi Nagar Extetion - 1?

Bharathi Nagar Extetion - 1 is classified as Residential Special Type - I.

Where can I find the registration office for Bharathi Nagar Extetion - 1?

The Redhills Sub Registrar Office covers Bharathi Nagar Extetion - 1, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Bharathi Nagar Extetion - 1?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft would incur a total stamp duty and registration fee of Rs 79,200.