Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Veeraragavapuram village under the Kunrathur SRO, is Rs 990 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Bharathi Nagar has changed

Over the years, the guideline value for Bharathi Nagar has experienced several revisions. The 2007 revision set the value at Rs 200 per sq.ft, which increased significantly to Rs 900 per sq.ft in the 2012 revision. However, there was a decrease to Rs 603 per sq.ft in the 2017 revision. The 2023 revision raised the value to Rs 900 per sq.ft, and the latest 2024 revision has further increased it to Rs 990 per sq.ft. Notably, the register has no figure for this street for the years 2002 and 2003.

In terms of percentage changes, the guideline value increased by 350% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 shows an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 395%.

Guideline values in Veeraragavapuram

In Veeraragavapuram, there are 10 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 2,790 per sq.ft. The median value is Rs 990 per sq.ft, placing Bharathi Nagar's 2024 figure at the median. Below are the guideline values for other streets in Veeraragavapuram:

• Avadi Main Road: Rs 1,320 per sq.ft (2024)
• Anaikattu I st Street: Rs 770 per sq.ft (2024)
• Anaikattu II nd Street: Rs 770 per sq.ft (2024)
• Anaikattu III rd Street: Rs 770 per sq.ft (2024)
• Park street: Rs 770 per sq.ft (2024)
• Pilliyar Koil Street: Rs 990 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 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty, charged at 7%, amounts to Rs 69,300, while the registration fee at 2% is Rs 19,800. Together, the total fees would be Rs 89,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Veeraragavapuram

The guideline value is a crucial factor in the registration process when buying or selling property in Veeraragavapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the 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 990 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 200 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 395% over this period.

What are the stamp duty rates in Bharathi Nagar?

The stamp duty rate in Bharathi Nagar is 7% of the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300.

Which office handles property registrations in Bharathi Nagar?

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

What is the land classification of Bharathi Nagar?

Bharathi Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes within the area.