Guideline Value for Bharathi Nagar Main Road

Bharathi Nagar Main Road guideline value

The current guideline value of Bharathi Nagar Main Road is Rs 3,550 per sq.ft, effective from 1 July 2024. This road is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Bharathi Nagar Main Road has changed

The guideline value for Bharathi Nagar Main Road has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 3,200 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 2,144 per sq.ft, marking a decline of 33%. Following this, the value increased significantly to Rs 3,200 per sq.ft in 2023, and then rose again to Rs 3,550 per sq.ft in 2024, representing an increase of 11% from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. The guideline value for Bharathi Nagar Main Road is above this median.

• Bharathi Road: Rs 3,550 per sq.ft (2024)
• Bharathi Salai: Rs 3,550 per sq.ft (2024)
• Bharathi Nagar 2nd Street: Rs 3,550 per sq.ft (2024)
• Bharathi Nagar 1st Street: Rs 3,550 per sq.ft (2024)
• Bhakyalakshmi Nagar 4th Street: Rs 3,100 per sq.ft (2024)
• Bhakyalakshmi Nagar 3rd Street: Rs 3,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 3,550 per sq.ft, the guideline value amounts to Rs 35,50,000. The stamp duty at 7% would be Rs 2,48,500, and the registration fee at 2% would be Rs 71,000, totaling Rs 3,19,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar Main Road?

The Sub Registrar Office that covers Bharathi Nagar Main Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO online.

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

The guideline value is a crucial factor when registering a property in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, impacting the total expenditure involved in the transaction.

Frequently asked questions

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

The current guideline value of Bharathi Nagar Main Road is Rs 3,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,550 per sq.ft in 2024.

What are the registration fees for property in Bharathi Nagar Main Road?

For a property valued at Rs 35,50,000, the stamp duty is Rs 2,48,500, and the registration fee is Rs 71,000, totaling Rs 3,19,500.

Which office handles registrations for this area?

The Chennai South Joint II Sub Registrar Office handles registrations for Bharathi Nagar Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Bharathi Nagar Main Road?

The land classification for Bharathi Nagar Main Road is Residential Class I Type - II.