Guideline Value for Bharathi Street (M.G.R. Nagar)

Bharathi Street (M.G.R. Nagar) guideline value

The current guideline value of Bharathi Street (M.G.R. Nagar) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO, with a land classification of Residential Class IV Type - II.

How the guideline value of Bharathi Street (M.G.R. Nagar) has changed

The guideline value of Bharathi Street (M.G.R. Nagar) has seen several revisions over the years. In 2007, the value was Rs 620 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 384% rise. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a reduction of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, a 49% increase. The latest revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 432%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft in 2024. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Bharathi Street (M.G.R. Nagar) below this median.

• Bharathi Street (JPT) Pari Nagar: Rs 4,400 per sq.ft (2024)
• Bharathi Street (W.M): Rs 5,500 per sq.ft (2024)
• Bharathiyar 8th St (Kanu Nagar) NP: Rs 2,200 per sq.ft (2024)
• Bharathiyar Colony (1st Avenue): Rs 11,000 per sq.ft (2024)
• Bharathipuram: Rs 3,300 per sq.ft (2024)
• Bharathi Nagar (NP): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Street (M.G.R. Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value would be 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, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Bharathi Street (M.G.R. Nagar)?

The Sub Registrar Office that covers Bharathi Street (M.G.R. Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration process will use the guideline value or the sale price, whichever is higher, to calculate applicable fees.

When a property is sold, the guideline value helps establish a benchmark for taxation and ensures transparency in the registration process. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Bharathi Street (M.G.R. Nagar)?

The current guideline value of Bharathi Street (M.G.R. 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 620 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 432% over this period.

What are the guideline values for other streets in Kodambakkam?

Other streets in Kodambakkam have varying guideline values, with rates ranging from Rs 2,200 to Rs 11,000 per sq.ft. Bharathi Street (M.G.R. Nagar) has a value below the median of Rs 4,900 per sq.ft.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in Bharathi Street (M.G.R. Nagar)?

Stamp duty for properties in Bharathi Street (M.G.R. Nagar) is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.