Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Valarpuram village under the Sriperumpudur SRO, is Rs 300 per sq.ft. This value is effective from the 2024 revision, which will be in place starting 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bharathi Nagar has changed

Over the years, the guideline value of Bharathi Nagar has seen several revisions. The earliest recorded figure is from the 2007 revision, where the value was Rs 100 per sq.ft. This increased significantly to Rs 300 per sq.ft in the 2012 revision, marking a 200% rise. However, in the 2017 revision, the value decreased to Rs 201 per sq.ft, reflecting a 33% drop. The value then rose again to Rs 300 per sq.ft in the 2023 revision, and it remains the same in the 2024 revision, showing no change from the previous year.

In summary, from the 2017 revision to the 2023 revision, there was a 49% increase. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 200%.

Guideline values in Valarpuram

In Valarpuram, there are 91 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 100 to Rs 2,025 per sq.ft. The median value is Rs 300 per sq.ft, which is the same as the current guideline value for Bharathi Nagar.

• Bavana Nagar: Rs 300 per sq.ft (2024)
• Barani Nagar: Rs 300 per sq.ft (2024)
• Balaji Nagar Extn: Rs 300 per sq.ft (2024)
• Budhar Street: Rs 200 per sq.ft (2024)
• Balaji Nagar: Rs 300 per sq.ft (2024)
• Bajanai Koil Street: Rs 200 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, charged at 7%, would be Rs 21,000, while the registration fee at 2% would be Rs 6,000. Together, the total charges would be Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or 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 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 Valarpuram

The guideline value is a crucial factor in the registration process when buying or selling property in Valarpuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in 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 multiple times, with the most significant increase occurring from Rs 100 per sq.ft in 2007 to Rs 300 per sq.ft in 2012. The value has remained at Rs 300 per sq.ft since the 2023 revision.

What is the land classification for Bharathi Nagar?

Bharathi Nagar is classified as Residential Class II Type - I. This classification affects the guideline value and the types of properties that can be developed in the area.

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

The Sub Registrar Office for Bharathi Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. This office handles all property registrations for the area.

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

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft would incur a stamp duty of Rs 21,000.