Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value of Bharathi Nagar, located in Valasaravakkam village under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has undergone several revisions over the years. Starting from Rs 400 per sq.ft in 2002, it increased to Rs 435 per sq.ft in 2003, marking a 9% rise. The value then saw a further increase to Rs 500 per sq.ft in 2007, which was a 15% change. By 2012, the guideline value rose significantly to Rs 3,000 per sq.ft, reflecting a 500% increase from the previous revision. However, in 2017, it decreased to Rs 2,010 per sq.ft, a decline of 33% from the 2012 figure. The most recent revision in 2024 sets the value at Rs 3,300 per sq.ft, which is a 64% increase from 2017.

It is important to note that there is no figure available for the year 2023 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 725%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,850 per sq.ft, placing Bharathi Nagar's 2024 figure below the median.

• Bharathidasan Street: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar Annex: Rs 3,300 per sq.ft (2024)
• Bharathidasan 2nd Street: Rs 3,300 per sq.ft (2024)
• Bharathidasan 1st Street: Rs 3,300 per sq.ft (2024)
• Bharathi Colony Main Road: Rs 3,300 per sq.ft (2024)
• Bharathi Colony Extn. Salai: Rs 3,300 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 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. 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 Sub Registrar Office that covers Bharathi Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is recorded at a value that reflects the current market standards set by the Registration Department.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi Nagar is Rs 3,300 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 400 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, representing a total increase of 725% over the years.

What is the land classification of Bharathi Nagar?

Bharathi Nagar is classified as Residential Class II Type - II, indicating its suitability for residential development.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for Bharathi Nagar?

The Sub Registrar Office for Bharathi Nagar is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.