Guideline Value for Bharathi Nagar Main Road (NP)

Bharathi Nagar Main Road (NP) guideline value

The current guideline value of Bharathi Nagar Main Road (NP) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class IV Type - III.

How the guideline value of Bharathi Nagar Main Road (NP) has changed

The guideline value for Bharathi Nagar Main Road (NP) has undergone several revisions over the years. In 2007, the value was Rs 620 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a rise of 303%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, a decline of 33%. The value then saw a substantial increase to Rs 2,500 per sq.ft in 2023, followed by a further rise to Rs 2,700 per sq.ft in 2024, an increase of 8%.

Overall, from 2007 to 2024, the guideline value has increased by 335%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Bharathi Nagar Main Road (NP) below this median.

• Bharathi Nagar (NP): Rs 2,700 per sq.ft (2024)
• Bharathipuram: Rs 3,300 per sq.ft (2024)
• Bharathi Street (JPT) Pari Nagar: Rs 4,400 per sq.ft (2024)
• Bharathi Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Bharathi Street (W.M): Rs 5,500 per sq.ft (2024)
• Bharathiyar 8th St (Kanu Nagar) NP: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Main Road (NP)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total of Rs 2,43,000. 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 accurate calculations.

Which Sub Registrar Office covers Bharathi Nagar Main Road (NP)?

The Sub Registrar Office that covers Bharathi Nagar Main Road (NP) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process for property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected by the government. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Main Road (NP)?

The current guideline value of Bharathi Nagar Main Road (NP) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 620 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 335% over the years.

What is the registration fee for property in Bharathi Nagar Main Road (NP)?

The registration fee is typically 2% of the guideline value. For a property valued at Rs 27,00,000, the registration fee would be Rs 54,000.

Which Sub Registrar Office covers this area?

The Ashok Nagar Sub Registrar Office covers Bharathi Nagar Main Road (NP), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam under the Ashok Nagar SRO is Rs 4,900 per sq.ft, which is higher than the current value of Bharathi Nagar Main Road (NP).