Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Sriperumbudur A village under the Sriperumpudur SRO, is Rs 1,200 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has undergone several revisions over the years. The most recent revision in 2024 maintains the guideline value at Rs 1,200 per sq.ft, consistent with the 2023 revision. Prior to that, in 2017, the guideline value was Rs 804 per sq.ft, reflecting a significant increase of 49% from 2017 to 2023 and an overall increase of 49% from 2017 to 2024. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

In summary, the guideline value for Bharathi Nagar has remained stable at Rs 1,200 per sq.ft since 2023, while it saw a substantial rise from Rs 804 per sq.ft in 2017. This consistency indicates that the value has not changed from 2023 to 2024, but the earlier increase from 2017 to 2023 marks a significant adjustment in the guideline value.

Guideline values in Sriperumbudur A

Within Sriperumbudur A, there are 238 streets that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft, with a median value of Rs 700 per sq.ft. Bharathi Nagar's 2024 guideline value of Rs 1,200 per sq.ft is above this median.

• Bangalore Road: Rs 2,500 per sq.ft (2024)
• Banakara Street: Rs 1,000 per sq.ft (2024)
• B.L. Naidu Nagar: Rs 1,200 per sq.ft (2024)
• Balaji Street: Rs 700 per sq.ft (2024)
• Balaji Nagar: Rs 700 per sq.ft (2024)
• Buvaneshwari Nagar: Rs 400 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 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total fees to Rs 1,08,000. 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 details.

Which Sub Registrar Office covers Bharathi Nagar?

Bharathi Nagar falls under the jurisdiction of 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 Sriperumbudur A

The guideline value is a crucial factor during property registration in Sriperumbudur A, as it determines the minimum value at which properties can be registered. Buyers and sellers must take this value into account to ensure compliance with local regulations and to calculate applicable fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees payable. The fees are calculated based on the higher of the guideline value or the actual sale price, ensuring that the registration reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Bharathi Nagar has remained at Rs 1,200 per sq.ft since 2023, with a significant increase from Rs 804 per sq.ft in 2017, marking a 49% increase overall from 2017 to 2024.

What are the guideline values of other streets in Sriperumbudur A?

Other streets in Sriperumbudur A have varying guideline values. For example, Bangalore Road has a value of Rs 2,500 per sq.ft, while Banakara Street is valued at Rs 1,000 per sq.ft.

What fees are associated with buying property in Bharathi Nagar?

When buying property in Bharathi Nagar, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees would total Rs 1,08,000.

Which office handles property registration for Bharathi Nagar?

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