Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Porur village under the Kunrathur SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Bharathi Nagar has changed

The guideline value of Bharathi Nagar has seen several revisions over the years. In 2002, the value was Rs 287 per sq.ft, which increased to Rs 380 per sq.ft in 2003, marking a 32% rise. The value continued to climb, reaching Rs 750 per sq.ft in 2007, a significant increase of 97%. By 2012, the guideline value was Rs 3,600 per sq.ft, reflecting a remarkable jump of 380% from the previous revision. However, it dropped to Rs 2,412 per sq.ft in 2017, a decrease of 33%.

From 2017 to 2023, the value surged to Rs 3,600 per sq.ft, representing a 49% increase. The latest revision in 2024 set the guideline value at Rs 3,960 per sq.ft, a 10% rise from the previous year. The overall change from 2002 to 2024 is an increase of 1,280%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,860 to Rs 6,380 per sq.ft, with the median being Rs 3,960 per sq.ft. Bharathi Nagar's 2024 figure aligns with this median.

• Bharathi Nagar 1stStreet: Rs 3,960 per sq.ft (2024)
• Bharathi Nagar 2nd Street: Rs 3,960 per sq.ft (2024)
• Bell Nagar: Rs 3,520 per sq.ft (2024)
• Batrachalam Street: Rs 3,520 per sq.ft (2024)
• Bathrachalam Cross Street: Rs 3,520 per sq.ft (2024)
• Balamurugan Nagar - Ranganathan Street: Rs 3,960 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 3,960 per sq.ft, the total guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total fees together to Rs 3,56,400. 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 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 Porur

The guideline value plays a crucial role in the registration process when buying or selling property in Porur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 287 per sq.ft in 2002 to Rs 3,960 per sq.ft in 2024, reflecting an overall increase of 1,280% over the years.

What is the land classification for Bharathi Nagar?

The land classification for Bharathi Nagar is Residential Special Type - I, indicating its designated use for residential purposes.

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

The Sub Registrar Office for Bharathi Nagar is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles property registrations in the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 39,60,000, the total fees would amount to Rs 3,56,400.