Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Jampuli village under the Madhavaram SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Bharathi Nagar has changed

In the 2012 revision, the guideline value was Rs 1,600 per sq.ft. This figure remained the same until the 2017 revision when it decreased significantly to Rs 1,072 per sq.ft, marking a drop of 33%. Following this, the guideline value saw a substantial increase to Rs 1,600 per sq.ft in the 2023 revision, and then further increased to Rs 1,700 per sq.ft in the 2024 revision, reflecting a 6% rise.

From 2017 to 2023, the increase was notable at 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median of Rs 2,450 per sq.ft. The guideline value for Bharathi Nagar is below this median.

• Bharathidasan Street (Near Kodungaiyur School): Rs 1,700 per sq.ft (2024)
• Bharathidasan Street: Rs 1,700 per sq.ft (2024)
• Bharathi Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Salai: Rs 1,700 per sq.ft (2024)
• Burma Colony Road: Rs 1,700 per sq.ft (2024)
• Chinna Pappammal Street: Rs 2,200 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 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar?

The Madhavaram Sub Registrar Office covers Bharathi Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Jampuli. 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 registered, the guideline value is used to determine the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Bharathi Nagar?

The land classification for Bharathi Nagar is Residential Class IV Type - I.

What are the other streets with the same guideline value in Jampuli?

Other streets in Jampuli with the same guideline value of Rs 1,700 per sq.ft include Bharathidasan Street (Near Kodungaiyur School), Bharathidasan Street, Bharathi Street, Bharathiyar Salai, and Burma Colony Road.

What is the registration office for Bharathi Nagar?

The registration office for Bharathi Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.