Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Kodungaiyur village under the Madhavaram SRO, is Rs 2,700 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - I land classification.

How the guideline value of Bharathi Nagar has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. However, this figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. The most recent 2024 revision saw a significant increase to Rs 2,700 per sq.ft, representing a rise of 61% from the 2017 figure.

Overall, comparing the 2012 and 2024 revisions, the guideline value has experienced a modest increase of 8%. It is important to note that the register does not have figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which aligns with the current guideline value of Bharathi Nagar.

• Bharathidasan Street: Rs 2,200 per sq.ft (2024)
• Bharathidasan Salai: Rs 2,200 per sq.ft (2024)
• Bharathidasan 1st Street: Rs 2,200 per sq.ft (2024)
• Bharathi Street: Rs 2,200 per sq.ft (2024)
• Bhagavathi Street: Rs 2,200 per sq.ft (2024)
• Bhagavathi 1st Cross 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 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, calculated at 7%, would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, these fees total Rs 2,43,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our 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 Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When a property is registered, the higher value between the guideline value and the actual sale price is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the prevailing market conditions as reflected in the guideline values.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024. This represents a decline of 33% from 2012 to 2017, followed by a 61% increase from 2017 to 2024.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000, and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Bharathi Nagar?

The Madhavaram Sub Registrar Office covers Bharathi Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification of Bharathi Nagar?

Bharathi Nagar falls under the Residential Class I Type - I land classification, indicating its suitability for residential development.