Guideline Value for Bharathi Street Nilamangai Nagar

Bharathi Street Nilamangai Nagar guideline value

The current guideline value of Bharathi Street in Nilamangai Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024. This street falls under the jurisdiction of the Alandur SRO and is classified as Residential Class I Type - III.

How the guideline value of Bharathi Street Nilamangai Nagar has changed

Over the years, the guideline value for Bharathi Street Nilamangai Nagar has undergone several revisions. The 2012 revision recorded a guideline value of Rs 3,500 per sq.ft, which decreased to Rs 2,345 per sq.ft in the 2017 revision. This was a decline of 33%. However, the value saw a significant increase in the subsequent revisions, rising to Rs 3,500 per sq.ft in 2023 and then to Rs 3,900 per sq.ft in 2024, marking an increase of 11% from the previous year.

From the 2017 revision to the 2023 revision, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is the same as the current value for Bharathi Street Nilamangai Nagar.

• Bharathi Street: Rs 3,900 per sq.ft (2024)
• Bharathiyar Street Vanuvam Pettai: Rs 3,900 per sq.ft (2024)
• Bharath Nagar: Rs 3,900 per sq.ft (2024)
• Bhavani Street: Rs 3,900 per sq.ft (2024)
• Bharathidasan Street (Nilamangai Nagar): Rs 3,900 per sq.ft (2024)
• Bhuvaneshwari Nagar 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Street Nilamangai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total charges to Rs 3,51,000. 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 details.

Which Sub Registrar Office covers Bharathi Street Nilamangai Nagar?

The Sub Registrar Office that covers Bharathi Street Nilamangai Nagar is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Adambakkam. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must be aware of the guideline value to ensure they are compliant with the legal requirements during the transaction process.

When a property is sold, the guideline value is compared with the sale price, and the duty is charged on the higher of the two. This ensures that the government receives appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Bharathi Street Nilamangai Nagar?

The current guideline value of Bharathi Street Nilamangai Nagar is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has changed from Rs 3,500 per sq.ft to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Bharathi Street?

For a property valued at Rs 39,00,000, the stamp duty is Rs 2,73,000 and the registration fee is Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office covers this area?

The Alandur Sub Registrar Office covers Bharathi Street Nilamangai Nagar, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Bharathi Street?

Bharathi Street Nilamangai Nagar is classified as Residential Class I Type - III, which indicates its suitability for residential development.