Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Navaloor village under the Sriperumpudur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Bharathi Nagar has changed

Over the years, the guideline value for Bharathi Nagar has seen several revisions. The 2007 revision set the value at Rs 180 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, in the 2017 revision, it rose significantly by 49% to Rs 201 per sq.ft. The value remained unchanged at Rs 300 per sq.ft in both the 2023 and 2024 revisions, indicating no change from the previous year.

Notably, the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 67%.

Guideline values in Navaloor

In Navaloor, there are 26 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 1,100 per sq.ft. The median value across these streets is Rs 300 per sq.ft, placing Bharathi Nagar's 2024 figure at the median level.

• Brindavan Nagar: Rs 200 per sq.ft (2024)
• Bajanai Koil Street: Rs 150 per sq.ft (2024)
• Chinnasamy Nagar: Rs 300 per sq.ft (2024)
• Dei Gratia Associates: Rs 300 per sq.ft (2024)
• Dr.Chandra City: Rs 450 per sq.ft (2024)
• Alamaram Street: Rs 150 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is important to note that 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?

The Sub Registrar Office that covers Bharathi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Navaloor, as it determines the amount of stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

When engaging in property transactions, it is essential to consider the guideline value for accurate budgeting of costs associated with registration and compliance with local regulations. This value serves as a benchmark for property transactions within the area.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revision in 2024 maintaining the value at Rs 300 per sq.ft, the same as in 2023. The value saw a significant increase of 49% from Rs 201 per sq.ft in 2017.

What are the other streets in Navaloor and their guideline values?

Other streets in Navaloor include Brindavan Nagar at Rs 200 per sq.ft, Bajanai Koil Street at Rs 150 per sq.ft, and Chinnasamy Nagar and Dei Gratia Associates both at Rs 300 per sq.ft. Dr.Chandra City is priced at Rs 450 per sq.ft, while Alamaram Street is at Rs 150 per sq.ft.

What is the stamp duty rate in Bharathi Nagar?

The stamp duty rate in Bharathi Nagar is 7% of the guideline value or sale price, whichever is higher. This means that for a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000.

Where can I find the Sub Registrar Office for Bharathi Nagar?

The Sub Registrar Office for Bharathi Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.