Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Naduveerapattu village under the Padappai SRO, is Rs 440 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bharathi Nagar has changed

Over the years, the guideline value for Bharathi Nagar has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which was then reduced to Rs 268 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 400 per sq.ft, followed by a further rise to Rs 440 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Naduveerapattu

Naduveerapattu village has a total of 96 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 2,500 per sq.ft, with a median value of Rs 660 per sq.ft. Bharathi Nagar's current guideline value is below this median.

• Chandra Garden: Rs 550 per sq.ft (2024)
• Balaji Nagar: Rs 440 per sq.ft (2024)
• Darcost Vinnarasi Street: Rs 660 per sq.ft (2024)
• Darshan Garden: Rs 1,640 per sq.ft (2024)
• Dhakshin City: Rs 550 per sq.ft (2024)
• Ashok Brindhavanam: Rs 550 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 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total charges to Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

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 more information.

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

The guideline value is a crucial factor in property transactions in Naduveerapattu. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees during the buying or selling process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Bharathi Nagar?

The land classification for Bharathi Nagar is Residential Class II Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which office handles property registrations for Bharathi Nagar?

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