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Guideline Value

Corporate

Guideline Value for Bharathi Nagar, Lakshmipuram (Ward-26)

₹1600/sq.ft.

The guideline value for Bharathi Nagar, Lakshmipuram (ward-26) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 1600 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 7% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹1600 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bharathi Nagar, Lakshmipuram (ward-26)

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Bharathi Nagar, Lakshmipuram (Ward-26) guideline value

The current guideline value of Bharathi Nagar, Lakshmipuram (Ward-26) is Rs 1,600 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is registered with the Madhavaram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Bharathi Nagar, Lakshmipuram (Ward-26) has changed

The guideline value for Bharathi Nagar, Lakshmipuram (Ward-26) has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 1,500 per sq.ft, and for the 2024 revision, it increased to Rs 1,600 per sq.ft, marking a change of +7%.

This street's 2024 guideline value of Rs 1,600 per sq.ft is equal to the median value of Rs 1,600 per sq.ft for the 1,946 streets in Madhavaram under the Madhavaram SRO, which range from Rs 1,300 to Rs 7,500 per sq.ft.

Guideline values in Madhavaram

In Madhavaram, the guideline values vary significantly across different streets. The current guideline value for Bharathi Nagar, Lakshmipuram (Ward-26) is aligned with the median value for the village. The following are the guideline values for other streets in Madhavaram:

Stamp duty and registration fee for property in Bharathi Nagar, Lakshmipuram (Ward-26)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total cost for these fees Rs 1,44,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Bharathi Nagar, Lakshmipuram (Ward-26)?

The Sub Registrar Office that covers Bharathi Nagar, Lakshmipuram (Ward-26) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value is a crucial figure used during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the fees reflect the true value of the transaction.

Frequently asked questions

What is the current guideline value of Bharathi Nagar, Lakshmipuram (Ward-26)?

The current guideline value of Bharathi Nagar, Lakshmipuram (Ward-26) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bharathi Nagar, Lakshmipuram (Ward-26) was Rs 1,500 per sq.ft in 2023 and increased to Rs 1,600 per sq.ft in 2024, reflecting a change of +7%. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Bharathi Nagar, Lakshmipuram (Ward-26)?

The land classification for Bharathi Nagar, Lakshmipuram (Ward-26) is Residential Class II Type - I. This classification indicates the type of development permissible in the area.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in Bharathi Nagar, Lakshmipuram (Ward-26).

How is the stamp duty calculated for properties in Bharathi Nagar, Lakshmipuram (Ward-26)?

Stamp duty for properties in Bharathi Nagar, Lakshmipuram (Ward-26) is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 at a rate of 7%.