Guideline Value for Bharathi Nagar Thapathi Street

Bharathi Nagar Thapathi Street guideline value

The current guideline value of Bharathi Nagar Thapathi 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 falls under the Residential Class III Type - I land classification.

How the guideline value of Bharathi Nagar Thapathi Street has changed

The guideline value for Bharathi Nagar Thapathi Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and the most recent revision in 2024 established the current value at Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2017 to 2023, there was a substantial increase of 49%, and from 2023 to 2024, the value rose by 10%. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value.

Guideline values in Tharamani

In Tharamani, there are 78 streets under the Adayar SRO that have 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, placing Bharathi Nagar Thapathi Street's 2024 value below that median.

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

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

Which Sub Registrar Office covers Bharathi Nagar Thapathi Street?

The Bharathi Nagar Thapathi Street falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Tharamani. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures a standard practice in property transactions, providing transparency and consistency in the registration process.

Frequently asked questions

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

The current guideline value of Bharathi Nagar Thapathi 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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Bharathi Nagar Thapathi Street?

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

What are the stamp duty and registration fees for property in Bharathi Nagar Thapathi Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 1,98,000.

Which office handles registrations for Bharathi Nagar Thapathi Street?

The Adayar Sub Registrar Office handles registrations for Bharathi Nagar Thapathi Street, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.