Guideline Value for Bharathi Street (J.B.Nagar)

Bharathi Street (J.B.Nagar) guideline value

The current guideline value for Bharathi Street (J.B.Nagar) is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bharathi Street (J.B.Nagar) has changed

Over the years, the guideline value for Bharathi Street (J.B.Nagar) has seen significant changes. The 2007 revision set the value at Rs 400 per sq.ft, which increased to Rs 2,200 per sq.ft in both the 2012 and 2023 revisions. The most recent 2024 revision has raised the guideline value to Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

From 2007 to 2012, the guideline value rose dramatically by 450%, and there was no change from 2012 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 500%. The register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO carrying a 2024 guideline value, ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which is the same as the current value for Bharathi Street (J.B.Nagar).

• Bharathi Street (Devi Nagar): Rs 2,400 per sq.ft (2024)
• Bharathi Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Bharathi Puram: Rs 2,400 per sq.ft (2024)
• Bharathi Nagar Extension: Rs 2,400 per sq.ft (2024)
• Bharathiyar Street(Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Bharathiyar Street(sri Nagar colony): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Street (J.B.Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty is charged at 7%, which totals Rs 1,68,000, and the registration fee at 2% amounts to Rs 48,000. Together, the total fees would be Rs 2,16,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Bharathi Street (J.B.Nagar)?

The Sub Registrar Office that covers Bharathi Street (J.B.Nagar) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thirumullaivoyal. It serves as a reference point for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. It is essential to stay updated with the latest revisions to understand the financial implications of property transactions in the area.

Frequently asked questions

What is the current guideline value of Bharathi Street (J.B.Nagar)?

The current guideline value of Bharathi Street (J.B.Nagar) is Rs 2,400 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 2,400 per sq.ft in 2024, reflecting a 500% increase overall. There were no changes recorded for the years 2017, 2003, and 2002.

What is the land classification for Bharathi Street (J.B.Nagar)?

Bharathi Street (J.B.Nagar) is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Bharathi Street (J.B.Nagar)?

The Ambattur Sub Registrar Office covers Bharathi Street (J.B.Nagar) and is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for property transactions in Thirumullaivoyal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at 7%.