Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Thalimangalam village under the Chengleput Joint II SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the 2017 revision. However, the 2017 revision saw a decrease to Rs 335 per sq.ft, followed by a significant increase to Rs 500 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 500 per sq.ft.

Guideline values in Thalimangalam

In Thalimangalam, there are 9 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 500 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Bharathi Nagar's 2024 figure above that median.

• Jsn Enclave: Rs 400 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 300 per sq.ft (2024)
• Murugan Avenue: Rs 500 per sq.ft (2024)
• Rajeswari Nagar: Rs 300 per sq.ft (2024)
• Sabari Garden: Rs 400 per sq.ft (2024)
• Sri Valli Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar?

The Sub Registrar Office that covers Bharathi Nagar is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Thalimangalam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value serves as a benchmark for taxation purposes. Buyers and sellers must consider this value to understand their financial obligations during the transaction, as it affects the overall costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 500 per sq.ft in both 2023 and 2024. It decreased from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, before returning to Rs 500 per sq.ft in subsequent revisions.

What is the land classification of Bharathi Nagar?

Bharathi Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Bharathi Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for Bharathi Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.