Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar is Rs 210 per sq.ft, effective from 1 July 2024. This area is located in Nemili village, under the Sriperumpudur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has undergone several revisions over the years. In 2007, the value was Rs 55 per sq.ft, which increased significantly to Rs 200 per sq.ft in 2012, marking a 264% rise. However, it saw a decrease to Rs 134 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 200 per sq.ft in 2023, before reaching the current rate of Rs 210 per sq.ft in 2024, reflecting a 5% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 282%, showing significant changes over the years.

Guideline values in Nemili

Nemili village has a total of 66 streets under the Sriperumpudur SRO, with guideline values ranging from Rs 150 to Rs 1,000 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which means Bharathi Nagar's 2024 figure is below that median.

• Bhagavathy Nagar: Rs 210 per sq.ft (2024)
• Benzigar Nagar: Rs 250 per sq.ft (2024)
• Balaji Nagar: Rs 300 per sq.ft (2024)
• Bajanai Koil Street: Rs 250 per sq.ft (2024)
• Bajanai Koil Cross Street: Rs 210 per sq.ft (2024)
• Asina nagar: Rs 210 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 210 per sq.ft, the total guideline value would be Rs 2,10,000. The stamp duty at 7% would amount to Rs 14,700, and the registration fee at 2% would be Rs 4,200, bringing the total to Rs 18,900. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

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 Nemili

The guideline value is an essential factor when registering property transactions in Nemili. It serves as a baseline for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, both parties must consider the guideline value as it affects the overall costs involved in the transaction. It is crucial for buyers to be aware of these values to avoid any unexpected expenses during the registration process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 55 per sq.ft in 2007 to Rs 210 per sq.ft in 2024, marking an overall increase of 282% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 2,10,000, leading to a stamp duty of Rs 14,700 and a registration fee of Rs 4,200, totaling Rs 18,900.

Which office handles registrations for Bharathi Nagar?

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

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It is updated periodically to reflect changes in the real estate market.