Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Kovilpathagai village under the Ambattur SRO, is Rs 1,100 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 seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft. In 2017, this figure decreased to Rs 670 per sq.ft, marking a decline of 33%. The 2023 revision then increased the value to Rs 1,000 per sq.ft, followed by a further increase to Rs 1,100 per sq.ft in 2024, which is a 10% rise from the previous year. 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 increased by 10%. Between 2017 and 2023, there was a significant increase of 49% from Rs 670 per sq.ft to Rs 1,000 per sq.ft, and the jump from 2023 to 2024 is 10%.

Guideline values in Kovilpathagai

Kovilpathagai village has a total of 278 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value in this village is Rs 870 per sq.ft, making Bharathi Nagar's current value of Rs 1,100 per sq.ft above the median.

• Bharathi Nagar Extensition: Rs 1,100 per sq.ft (2024)
• Bharathi Street: Rs 1,100 per sq.ft (2024)
• Bharath Nagar: Rs 1,100 per sq.ft (2024)
• Bhavanar Street: Rs 880 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 807 per sq.ft (2024)
• Bhuvaneswari Street: Rs 880 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty, charged at 7%, would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar?

Bharathi Nagar falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Kovilpathagai. When a property is registered, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is crucial for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. The guideline value helps maintain transparency and consistency in the real estate market.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the guideline values of other streets in Kovilpathagai?

Other streets in Kovilpathagai include Bharathi Nagar Extensition, Bharathi Street, and Bharath Nagar, all valued at Rs 1,100 per sq.ft in 2024, along with Bhavanar Street at Rs 880 per sq.ft and Bhuvaneswari Nagar at Rs 807 per sq.ft.

What is the stamp duty for properties in Bharathi Nagar?

The stamp duty for properties in Bharathi Nagar is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.

Where is the Sub Registrar Office for Bharathi Nagar?

The Sub Registrar Office covering Bharathi Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.