Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Pozhichalur village under the Pammal SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has seen significant changes over the years. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 804 per sq.ft in 2017, marking a substantial rise of 168%. The value further increased to Rs 1,200 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The current 2024 revision shows a guideline value of Rs 1,320 per sq.ft, which is a 10% increase from 2023.

It is important to note that there are no figures available for the years 2002, 2003, and 2012 in the register for Bharathi Nagar. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO, with guideline values ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value is Rs 1,320 per sq.ft, which matches the 2024 figure for Bharathi Nagar.

• Bharathi Nagar Annai Indra Nagar: Rs 1,320 per sq.ft (2024)
• Bharathi Nagar M.G.R Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Namazhvar Street: Rs 1,320 per sq.ft (2024)
• Bharathi Street Sanmuga Nagar: Rs 1,320 per sq.ft (2024)
• Bharathithasan Street: Rs 1,320 per sq.ft (2024)
• Bharathiyar 1st Street: Rs 1,650 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar?

Bharathi Nagar falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Pozhichalur

The guideline value is a crucial factor in property transactions in Pozhichalur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the baseline value of the property. It is essential for buyers to be aware of this value to negotiate effectively and for sellers to set realistic expectations regarding their property's worth.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 300 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, which is an overall increase of 340%.

What is the land classification of Bharathi Nagar?

Bharathi Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Bharathi Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400.