Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Koozhangacheri village under the Sunguvarchattram SRO, is Rs 250 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

The guideline value for Bharathi Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, marking a 33% drop. However, by the 2023 revision, the value returned to Rs 250 per sq.ft, and it has remained the same through the 2024 revision, reflecting no percentage change from 2023 to 2024.

From the 2017 revision to the 2023 revision, there was a significant increase of 50%. Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 250 per sq.ft.

Guideline values in Koozhangacheri

Koozhangacheri village has a total of 47 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 200 to Rs 1,200 per sq.ft. The median value for these streets is Rs 226 per sq.ft, placing Bharathi Nagar's 2024 guideline value above this median.

• Bharathi Nagar Part-I: Rs 250 per sq.ft (2024)
• Bajanai Kovil Street: Rs 200 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 250 per sq.ft (2024)
• Dhanapriya Nagar: Rs 226 per sq.ft (2024)
• Aravindha Avenue: Rs 226 per sq.ft (2024)
• Annai Nagar: 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty, charged at 7%, would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Bharathi Nagar?

The Bharathi Nagar area is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Koozhangacheri. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is taken into account to ensure that the appropriate fees are calculated based on the higher of either the guideline value or the sale price. This ensures compliance with local regulations and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various changes, with a notable increase of 50% from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023. However, it has remained unchanged at Rs 250 per sq.ft from 2012 to 2024.

What is the land classification of Bharathi Nagar?

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

Where can I find more information about the registration office?

The Sunguvarchattram Sub Registrar Office covers Bharathi Nagar. It is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, 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 2,50,000, the stamp duty would be Rs 17,500.