Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Mugappair village under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is classified as 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 value was Rs 274 per sq.ft, which increased to Rs 301 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 800 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, there was a decline to Rs 2,345 per sq.ft in 2017. The value then increased to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set it at Rs 3,800 per sq.ft.

In terms of percentage changes, from 2002 to 2024, there has been an overall increase of 1,287%. Specifically, the change from 2017 to 2023 was an increase of 49%, while the 2012 to 2017 period saw a decrease of 33%. The 2007 to 2012 revision marked a significant increase of 338%, and from 2003 to 2007, there was an increase of 166%. The 2002 to 2003 revision saw a modest rise of 10%. There are no figures available for revisions for years not mentioned in this context.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Bharathi Nagar's 2024 figure below this median.

• Bharathidhasan Nagar: Rs 3,800 per sq.ft (2024)
• Bharathiar Street: Rs 3,800 per sq.ft (2024)
• Bharathiar I Street and II Street: Rs 3,800 per sq.ft (2024)
• Bharathi Salai: Rs 3,800 per sq.ft (2024)
• Balu Nagar: Rs 7,100 per sq.ft (2024)
• Burner Salai: Rs 3,800 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 amounts to Rs 38,00,000. The stamp duty at 7% would be 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.

For more information, 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 Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. For further assistance, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transacted.

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 experienced various revisions, increasing from Rs 274 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, with notable changes in between.

What is the land classification for Bharathi Nagar?

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

What are the stamp duty and registration fees for property transactions?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. These fees are based on the higher of the guideline value or the sale price.

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

The Konnur Sub Registrar Office covers Bharathi Nagar, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.