Guideline Value for Bharathi Nagar Nethaji Street

Bharathi Nagar Nethaji Street guideline value

The current guideline value of Bharathi Nagar Nethaji Street is Rs 6,100 per sq.ft, effective from 1 July 2024. This street is located in Adayar village, under the Adayar SRO, and is classified as Residential Class II Type - I.

How the guideline value of Bharathi Nagar Nethaji Street has changed

In the 2007 revision, the guideline value was Rs 2,200 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a 150% rise. However, in the 2017 revision, the value decreased to Rs 3,685 per sq.ft, reflecting a decline of 33%. The value then increased to Rs 5,500 per sq.ft in the 2023 revision, a rise of 49%, before reaching the current value of Rs 6,100 per sq.ft in the 2024 revision, which is an 11% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 177%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Adayar

In Adayar, there are 92 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value is Rs 6,100 per sq.ft, which matches the current value for Bharathi Nagar Nethaji Street.

• Bharathi Nagar Main Road: Rs 6,100 per sq.ft (2024)
• Bharathi Nagar Tank Square Street: Rs 6,100 per sq.ft (2024)
• Bharathi Nagar Krishnamurthy Street: Rs 6,100 per sq.ft (2024)
• Balaram Road: Rs 6,100 per sq.ft (2024)
• Chitra Nagar: Rs 5,500 per sq.ft (2024)
• Circular Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Nethaji Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 61,00,000. The stamp duty at 7% would amount to Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, bringing the total to Rs 5,49,000. 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 Nethaji Street?

The Sub Registrar Office that covers Bharathi Nagar Nethaji Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Adayar. It is used to determine the stamp duty and registration fees when a property is bought or sold. The guideline value is set by the Registration Department and reflects the market conditions in the area.

When registering a property, buyers must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Nethaji Street?

The current guideline value of Bharathi Nagar Nethaji Street is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2007 to Rs 6,100 per sq.ft in 2024, reflecting an overall increase of 177% over the years.

What is the stamp duty rate for property transactions in Adayar?

The stamp duty rate for property transactions in Adayar is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bharathi Nagar Nethaji Street?

The Sub Registrar Office for Bharathi Nagar Nethaji Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Bharathi Nagar Nethaji Street?

Bharathi Nagar Nethaji Street is classified as Residential Class II Type - I according to the local guidelines.