Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Kobarasanallur village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of Bharathi Nagar has changed

Over the years, the guideline value of Bharathi Nagar has seen several revisions. The 2007 revision recorded a guideline value of Rs 300 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking a 500% rise. However, this value dropped to Rs 1,206 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The guideline value then increased to Rs 1,800 per sq.ft in 2023, followed by a further increase to Rs 1,980 per sq.ft in 2024, which is a 10% rise.

From 2017 to 2023, the guideline value rose by 49%. Overall, from the 2007 revision to the current 2024 revision, there has been a substantial increase of 560%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kobarasanallur

Kobarasanallur village has 28 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,180 per sq.ft. The median value among these streets is Rs 1,980 per sq.ft, which is equal to the guideline value for Bharathi Nagar.

• Bagyalakshmi Nagar: Rs 1,980 per sq.ft (2024)
• Anandam Nagar: Rs 1,980 per sq.ft (2024)
• Ganapathy Nagar: Rs 1,980 per sq.ft (2024)
• A.K.Nagar: Rs 1,980 per sq.ft (2024)
• Aishwarya Garden Annexe: Rs 1,650 per sq.ft (2024)
• Aishwarya Garden: Rs 1,980 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 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar?

The Bharathi Nagar area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kobarasanallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the actual sale price, whichever is higher, ensuring compliance with local regulations during the transaction.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 300 per sq.ft to Rs 1,980 per sq.ft in 2024, marking a total increase of 560% over the years.

What is the land classification in Bharathi Nagar?

The land classification for Bharathi Nagar is Mixed Special Type - II, which indicates the type of development permissible in the area.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600 and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles property registrations in Bharathi Nagar?

The Kunrathur Sub Registrar Office handles property registrations in Bharathi Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.