Guideline Value for Bharathi Nagar Tank Square Street

Bharathi Nagar Tank Square Street guideline value

The current guideline value of Bharathi Nagar Tank Square 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 Tank Square Street has changed

The guideline value for Bharathi Nagar Tank Square Street has seen several revisions over the years. In 2007, the value was set at Rs 2,200 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012, marking a 150% rise. However, from 2012 to 2017, there was a decline to Rs 3,685 per sq.ft, a drop of 33%. The value then rose again to Rs 5,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 6,100 per sq.ft, an 11% increase from the previous year.

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

Guideline values in Adayar

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

• Bharathi Nagar Nethaji Street: Rs 6,100 per sq.ft (2024)
• Bharathi Nagar Main Road: 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 Tank Square Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value would be Rs 61,00,000. The stamp duty at 7% would be Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, together amounting to Rs 5,49,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar Tank Square Street?

The Adayar Sub Registrar Office covers Bharathi Nagar Tank Square Street. The office is 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 the minimum value set by the registration department for properties in the area, and it is used to calculate stamp duty and registration fees during the buying or selling process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When registering a property, the guideline value is referenced to determine the applicable fees. It is essential for both parties in a transaction to be aware of the current guideline value to avoid discrepancies and ensure a smooth registration process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Tank Square Street?

The current guideline value of Bharathi Nagar Tank Square 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 land classification for Bharathi Nagar Tank Square Street?

Bharathi Nagar Tank Square Street is classified as Residential Class II Type - I.

Where can I find the registration office for Bharathi Nagar Tank Square Street?

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

How is stamp duty calculated for properties in Bharathi Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 61,00,000, the stamp duty would be Rs 4,27,000 at 7%.