Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value for Bharathi Nagar, located in Orakadu & Kiruthalapuram village under the Redhills SRO, is Rs 385 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I 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. The 2012 revision set the value at Rs 350 per sq.ft, which then decreased to Rs 234 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 350 per sq.ft, and the most recent 2024 revision has raised it to Rs 385 per sq.ft, marking a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Looking at the changes between revisions, the guideline value increased by 50% from 2017 to 2023. However, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Orakadu & Kiruthalapuram

In Orakadu & Kiruthalapuram, there are 34 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 900 per sq.ft. The median value is Rs 385 per sq.ft, which is the same as the current guideline value for Bharathi Nagar.

• Bharathidasan Street: Rs 385 per sq.ft (2024)
• Bharathiar Street: Rs 385 per sq.ft (2024)
• Divine City: Rs 900 per sq.ft (2024)
• Anna Street: Rs 385 per sq.ft (2024)
• Ambedkar Street: Rs 275 per sq.ft (2024)
• Gandhi Street: Rs 385 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 385 per sq.ft, the total guideline value would be Rs 3,85,000. The stamp duty at 7% would amount to Rs 26,950, and the registration fee at 2% would be Rs 7,700, bringing the total fees to Rs 34,650. It is important to note that 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.

Which Sub Registrar Office covers Bharathi Nagar?

The Sub Registrar Office that covers 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 details.

How the guideline value is used when you buy or sell in Orakadu & Kiruthalapuram

The guideline value is a crucial factor when buying or selling property in Orakadu & Kiruthalapuram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the buyer and seller must consider the guideline value during the registration process. This value serves as a benchmark for calculating the applicable fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value for Bharathi Nagar?

The current guideline value for Bharathi Nagar is Rs 385 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 350 per sq.ft in 2012 to Rs 234 per sq.ft in 2017, then increased to Rs 350 per sq.ft in 2023, and finally to Rs 385 per sq.ft in 2024.

What is the median guideline value for streets in Orakadu & Kiruthalapuram?

The median guideline value for streets in Orakadu & Kiruthalapuram is Rs 385 per sq.ft, which is the same as the current guideline value for Bharathi Nagar.

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

The stamp duty for a property valued at Rs 3,85,000 is Rs 26,950, and the registration fee is Rs 7,700, totaling Rs 34,650.

Where is the Sub Registrar Office for Bharathi Nagar located?

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