Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Palnalloor village under the Sunguvarchattram SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bharathi Nagar has changed

Looking at the revisions, the guideline value for Bharathi Nagar has seen several changes over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision had a lower figure of Rs 134 per sq.ft, marking a decrease of 33% from 2012. In contrast, the 2023 to 2024 revision shows no change, maintaining the value at Rs 200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained stable, with a total increase of 0%. Notably, the jump from Rs 134 in 2017 to Rs 200 in 2023 represents a significant increase of 49%.

Guideline values in Palnalloor

In Palnalloor, there are 34 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 471 per sq.ft, with the median value being Rs 200 per sq.ft. Bharathi Nagar's 2024 figure aligns with this median.

• BalaVinayagar Street: Rs 175 per sq.ft (2024)
• Balaji Nagar Part - I: Rs 200 per sq.ft (2024)
• Bajanai Kovil Street: Rs 175 per sq.ft (2024)
• Colony School Street: Rs 175 per sq.ft (2024)
• Anumanth Nagar: Rs 200 per sq.ft (2024)
• Annai Therasa Nagar: Rs 175 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is important to note that 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 covering Bharathi Nagar is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Palnalloor, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use the guideline value to calculate stamp duty and registration fees.

It is essential for both parties to be aware of the guideline value to ensure compliance with local regulations and avoid any potential issues during the registration process. Proper understanding of this value helps in making informed decisions in property transactions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

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

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 200 per sq.ft from 2012 to 2024, with a significant increase from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023.

What is the land classification for Bharathi Nagar?

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

Where is the Sub Registrar Office for Bharathi Nagar located?

The Sub Registrar Office for Bharathi Nagar is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.