Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Redhills 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 several revisions over the years. The earliest recorded value is from 2007 at Rs 400 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft. The subsequent revisions saw an increase to Rs 700 per sq.ft in 2023 and a further rise to the current value of Rs 770 per sq.ft in 2024, marking a 10% increase from the previous year.

In summary, the guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, representing an overall increase of 93%. Notably, there are no recorded figures for the years 2002 and 2003 for this street.

Guideline values in Padiyanallur

Padiyanallur village has a total of 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, which is the same as the current value for Bharathi Nagar.

• Bharathidasan Street: Rs 770 per sq.ft (2024)
• Bharathiar Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Bharath Nagar: Rs 770 per sq.ft (2024)
• Bharat Nagar Extn.: Rs 660 per sq.ft (2024)
• Bhavani Amman Koil Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Bhavani Nagar: Rs 770 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees together to Rs 69,300. It is important to note that the 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Padiyanallur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is considered the minimum value for registration purposes. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 770 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 2007 to Rs 770 per sq.ft in 2024, with significant fluctuations in between.

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

The stamp duty is 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees amount to Rs 69,300.

Which office handles property registrations in Bharathi Nagar?

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

What is the significance of the guideline value in property transactions?

The guideline value is essential for calculating stamp duty and registration fees during property transactions. It ensures that the transaction complies with local regulations and helps determine the minimum value for registration.