Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Thiruverkadu village under the Kunrathur SRO, is Rs 1,540 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 undergone several revisions over the years. The earliest recorded value was Rs 300 per sq.ft in 2007. This figure saw a significant increase to Rs 1,400 per sq.ft in 2012, followed by a decrease to Rs 938 per sq.ft in 2017. The value then rose sharply to Rs 1,400 per sq.ft in 2023, before reaching the current rate of Rs 1,540 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The jump from 2007 to 2012 was a remarkable 367%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2007 to 2024, the guideline value has increased by 413%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruverkadu

In Thiruverkadu, there are 178 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median value is Rs 1,540 per sq.ft, which is equal to the 2024 figure for Bharathi Nagar.

• Barathi Nagar Main Road: Rs 1,540 per sq.ft (2024)
• Barathi Nagar 4th Cross Street: Rs 1,540 per sq.ft (2024)
• Barathi Nagar 3rd Cross Street: Rs 1,540 per sq.ft (2024)
• Barathi Nagar 2nd Cross Street: Rs 1,540 per sq.ft (2024)
• Barathi Nagar 1st Cross Street: Rs 1,540 per sq.ft (2024)
• Baniathamman Koil Street Slab Road: Rs 1,540 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 1,540 per sq.ft, the total guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total cost to Rs 1,38,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, 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 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 Thiruverkadu

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruverkadu. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the true value of the property as determined by the local authorities. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, with various revisions in between.

What is the land classification of Bharathi Nagar?

Bharathi Nagar is classified as Residential Class I Type - I.

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.

How is stamp duty calculated for properties in Bharathi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,07,800.