Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Grandlyon village, under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has seen several revisions over the years. Starting from the 2003 revision, the guideline value was Rs 42 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2007, marking a rise of 614%. In 2012, the value remained at Rs 600 per sq.ft, showing no change for this street. The subsequent revision in 2017 saw a further increase to Rs 402 per sq.ft, which was a decrease of 33% from the previous figure. The 2023 revision set the value at Rs 600 per sq.ft, which then increased by 10% to Rs 660 per sq.ft in the 2024 revision.

Overall, from 2003 to 2024, the guideline value has increased by 1471%. The changes between the revisions are notable, with the most significant increase occurring from 2003 to 2007, followed by a gradual increase leading up to the current rate.

Guideline values in Grandlyon

In Grandlyon village, there are 82 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,500 per sq.ft. The median value is Rs 660 per sq.ft, which is equal to the current guideline value of Bharathi Nagar.

• Bharathi Avenue: Rs 440 per sq.ft (2024)
• Bharathi Nagar Extetion - 1: Rs 880 per sq.ft (2024)
• Bharathinagar Extn-II: Rs 440 per sq.ft (2024)
• Bharathiar Street: Rs 660 per sq.ft (2024)
• Buela Street: Rs 660 per sq.ft (2024)
• Chavadi Medu: Rs 440 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 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty is charged at 7%, which calculates to Rs 46,200, while the registration fee is 2%, amounting to Rs 13,200. Therefore, the total cost for stamp duty and registration fee together is Rs 59,400. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar?

The Sub Registrar Office covering Bharathi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Grandlyon. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the government receives appropriate revenue based on the value of the property being transferred.

When selling property, the guideline value helps establish a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any legal issues during the sale process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 660 per sq.ft, which is effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 42 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, marking an overall increase of 1471% over the years.

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

For a property valued at Rs 6,60,000, the stamp duty is Rs 46,200 and the registration fee is Rs 13,200, totaling Rs 59,400.

Which Sub Registrar Office is responsible for Bharathi Nagar?

The Redhills Sub Registrar Office is responsible for Bharathi Nagar, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Grandlyon?

The median guideline value in Grandlyon is Rs 660 per sq.ft, which is the same as the current guideline value for Bharathi Nagar.