Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Manimangalam A village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bharathi Nagar has changed

Over the years, the guideline value of Bharathi Nagar has seen significant changes. The 2017 revision set the value at Rs 536 per sq.ft, which increased to Rs 800 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, which is equal to the current value of Bharathi Nagar.

• Bharath Avenue Phase I: Rs 880 per sq.ft (2024)
• Bharath Avenue: Rs 880 per sq.ft (2024)
• Bilal Nagar: Rs 770 per sq.ft (2024)
• Blossom's GREEN AGATE: Rs 960 per sq.ft (2024)
• Bound Street: Rs 880 per sq.ft (2024)
• Balaji Garden: Rs 880 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 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. 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 information on fees.

Which Sub Registrar Office covers Bharathi Nagar?

The Sub Registrar Office that covers Bharathi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Manimangalam A. It serves as a benchmark for determining the minimum value of properties, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, which is an overall increase of 64%.

What is the registration office for Bharathi Nagar?

The registration office for Bharathi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated in Bharathi Nagar?

Stamp duty in Bharathi Nagar is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 at 7%.

Are there other streets with the same guideline value in Manimangalam A?

Yes, there are several other streets in Manimangalam A that share the same guideline value of Rs 880 per sq.ft, including Bharath Avenue Phase I, Bharath Avenue, Bound Street, and Balaji Garden.