Guideline Value for Bharathi Nagar Saraswathi Street

Bharathi Nagar Saraswathi Street guideline value

The current guideline value for Bharathi Nagar Saraswathi Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tharamani village, under the Adayar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bharathi Nagar Saraswathi Street has changed

The guideline value for Bharathi Nagar Saraswathi Street has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. This was a significant drop of 33%. However, the value increased to Rs 2,000 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, and the guideline value for Bharathi Nagar Saraswathi Street is below this median.

• Bharathi Nagar Thamirabarani Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar Thapathi Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Ponni Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Yamuna Street: Rs 2,200 per sq.ft (2024)
• Bharathi Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar Kaveri Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total charges 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 these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar Saraswathi Street?

The Sub Registrar Office that covers Bharathi Nagar Saraswathi Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For further details, you can find your SRO.

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

The guideline value is a crucial factor during the property registration process in Tharamani. It serves as the basis for calculating the stamp duty and registration fees that are payable when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value helps determine the official value of the property, ensuring that the correct fees are applied based on the established rates.

Frequently asked questions

What is the current guideline value for Bharathi Nagar Saraswathi Street?

The current guideline value for Bharathi Nagar Saraswathi Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 in 2023, and finally to Rs 2,200 in 2024.

What is the land classification for Bharathi Nagar Saraswathi Street?

Bharathi Nagar Saraswathi Street is classified as Residential Class III Type - I.

Which office do I need to visit for registration?

You need to visit the Adayar Sub Registrar Office located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20 for property registration related to Bharathi Nagar Saraswathi Street.

How is stamp duty calculated for properties in this area?

Stamp duty is 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 at the rate of 7%.