Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Konnur village under the Konnur SRO, is Rs 3,800 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

The guideline value for Bharathi Nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 181 per sq.ft, which increased to Rs 197 per sq.ft in 2003, marking a 9% rise. The value then saw a significant increase of 154% to reach Rs 500 per sq.ft in 2007. Following this, there was a substantial jump of 600%, bringing the guideline value to Rs 3,500 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33%, resulting in a guideline value of Rs 2,345 per sq.ft. The subsequent revision in 2023 saw a 49% increase, raising the value to Rs 3,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 3,800 per sq.ft, reflecting a 9% increase from the previous year.

There are no figures available for the revisions between 2002 and 2002, and 2003 and 2007, as well as for the years 2017 to 2023. Overall, from 2002 to 2024, the guideline value has increased by 1999%.

Guideline values in Konnur

In Konnur village, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with the median value being Rs 3,800 per sq.ft. Bharathi Nagar's 2024 guideline value aligns with this median.

• Bharathi Street: Rs 3,800 per sq.ft (2024)
• Bazaar Street: Rs 7,100 per sq.ft (2024)
• Balasubramaniam Street: Rs 5,500 per sq.ft (2024)
• Balaramapuram: Rs 2,750 per sq.ft (2024)
• Balaraman Street: Rs 2,750 per sq.ft (2024)
• Buvaneswari Nagar and Street: Rs 6,000 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 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees to Rs 3,42,000. 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?

The Sub Registrar Office that covers Bharathi Nagar is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Konnur. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the sale or purchase of property. Buyers and sellers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to consult the guideline value to ensure compliance with local regulations. This value helps in understanding the financial obligations associated with property registration and ensures a smooth transaction process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 181 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of 1999% over the years.

What are the stamp duty and registration fees for property in Bharathi Nagar?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000, and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the land classification for Bharathi Nagar?

The land classification for Bharathi Nagar is Residential Class II Type - I.