Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Perungalathur village under the Padappai SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Bharathi Nagar has changed

Since the 2007 revision, the guideline value has seen significant changes. The value was Rs 300 per sq.ft in 2007, which increased dramatically to Rs 3,600 per sq.ft in 2012, marking a rise of 1100%. However, the value then decreased to Rs 2,412 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,600 per sq.ft in 2023, and subsequently to Rs 3,960 per sq.ft in 2024, reflecting a 10% increase from the previous year. There are no figures available for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 1220%. The revisions show a progression from Rs 300 per sq.ft in 2007 to the current rate of Rs 3,960 per sq.ft in 2024, demonstrating the fluctuations and adjustments in property values over the years.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a guideline value for 2024, ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. Bharathi Nagar's current guideline value is above this median.

• Bharathidasan Street Extn: Rs 2,970 per sq.ft (2024)
• Bharathidasan Street: Rs 2,640 per sq.ft (2024)
• Bharathi Avenue Extension: Rs 4,290 per sq.ft (2024)
• Bharathi Avenue: Rs 2,970 per sq.ft (2024)
• Bharathi Nagar Extn: Rs 2,970 per sq.ft (2024)
• Bharathi Nagar Main Road: Rs 3,960 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 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, while the registration fee at 2% would be Rs 79,200, bringing the total to Rs 3,56,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar?

The Bharathi Nagar area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Perungalathur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is essential for ensuring that the transaction is registered correctly with the local authorities.

When selling property, the guideline value can also influence the sale price, as it provides a benchmark for buyers and sellers. It is important for both parties to be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 300 per sq.ft in 2007 to Rs 3,960 per sq.ft in 2024, with various fluctuations in between.

What is the land classification for Bharathi Nagar?

Bharathi Nagar is classified as Commercial Class I Type - I, which indicates its suitability for commercial activities.

Where can I find the registration office for Bharathi Nagar?

The registration office covering 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 guideline value or the sale price, whichever is higher. It is typically set at 7% of the guideline value.