Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar in Padappai village is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Padappai Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has seen significant changes over the years. In 2007, the value was Rs 50 per sq.ft, which increased dramatically to Rs 1,200 per sq.ft in 2012. However, it then decreased to Rs 804 per sq.ft in 2017. The value rose again to Rs 1,200 per sq.ft in 2023 before reaching the current rate of Rs 1,320 per sq.ft in 2024.

Between these revisions, the changes were notable: from 2007 to 2012, there was an increase of 2300%, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023 and finally saw a 10% rise from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft, with a median value of Rs 830 per sq.ft. Bharathi Nagar's current guideline value is above this median.

• Bharathi Street: Rs 1,320 per sq.ft (2024)
• Bhavani Nagar: Rs 1,320 per sq.ft (2024)
• Bazar Street: Rs 3,300 per sq.ft (2024)
• Bikshi Nagar: Rs 660 per sq.ft (2024)
• B.M.D.Nagar: Rs 1,320 per sq.ft (2024)
• Car Street: Rs 830 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total fees Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar?

The Padappai Sub Registrar Office covers Bharathi Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Padappai. It determines the stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers ensure compliance with local regulations and avoid any potential issues during the registration process. It is advisable to check the latest figures before proceeding with any real estate transactions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 50 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, with various increases and decreases in between.

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

For a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400, and the registration fee would be Rs 26,400, totaling Rs 1,18,800.

Which office handles registrations for Bharathi Nagar?

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

What is the land classification of Bharathi Nagar?

Bharathi Nagar is classified as Residential Class I Type - I, indicating its designation for residential use.