Guideline Value for Bharathi Nagar Jothi Nagar Ext

Bharathi Nagar Jothi Nagar Ext guideline value

The current guideline value of Bharathi Nagar Jothi Nagar Ext is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Bharathi Nagar Jothi Nagar Ext has changed

The guideline value for Bharathi Nagar Jothi Nagar Ext has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease in 2017, bringing the value down to Rs 1,340 per sq.ft. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, marking a 10% increase from 2023.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, there was a significant 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 Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that have a guideline value for 2024, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Bharathi Nagar Jothi Nagar Ext's 2024 figure below that median.

• Bharathidasan Nagar Prathana Main Road: Rs 2,200 per sq.ft (2024)
• Bharathidasan Nagar: Rs 2,200 per sq.ft (2024)
• Bhagavathsingh Street: Rs 3,300 per sq.ft (2024)
• Bhagavandas street: Rs 4,400 per sq.ft (2024)
• Bethdhel puram: Rs 1,320 per sq.ft (2024)
• Bemaswaran Koil St: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Jothi Nagar Ext

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar Jothi Nagar Ext?

The Bharathi Nagar Jothi Nagar Ext area is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Tambaram. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a value that reflects the legal requirements set by the government. This helps maintain transparency in property transactions and protects the interests of both buyers and sellers.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Jothi Nagar Ext?

The current guideline value of Bharathi Nagar Jothi Nagar Ext is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has fluctuated, with the most recent revision in 2024 increasing the value from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft. The value has seen a significant increase of 49% from 2017 to 2023.

What is the land classification for Bharathi Nagar Jothi Nagar Ext?

Bharathi Nagar Jothi Nagar Ext is classified as Residential Class I Type - II. This classification is essential for determining the guideline value and other regulatory aspects.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, mes Road, East Tambaram, Chennai-600059. This office handles property registrations for the Bharathi Nagar Jothi Nagar Ext area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000.