Guideline Value for Bharathi nagar

Bharathi nagar guideline value

The current guideline value of Bharathi nagar, located in Thirumazhisai village under the Poonamallee SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Bharathi nagar has changed

The guideline value of Bharathi nagar has undergone several revisions over the years. In 2002, the guideline value was Rs 70 per sq.ft. This increased to Rs 100 per sq.ft in 2003, marking a 43% rise. The value further rose to Rs 150 per sq.ft in 2007, reflecting a 50% increase. The next revision in 2012 saw the value remain at Rs 1,000 per sq.ft, which was a significant drop of 33% from Rs 670 per sq.ft in 2017. The 2017 revision brought the value up to Rs 670 per sq.ft, and the 2023 revision increased it to Rs 1,000 per sq.ft, before reaching the current value of Rs 1,100 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,471%. There are no figures available for the revisions in the years not listed for this street.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value of Bharathi nagar is below this median.

• Bharathi nagar vistharippu: Rs 1,100 per sq.ft (2024)
• Chakarapani Mudali Nagar: Rs 1,320 per sq.ft (2024)
• Balaji nagar (140,143,144/1,98,100): Rs 1,100 per sq.ft (2024)
• Balajinagar 100/1,100/2A: Rs 1,100 per sq.ft (2024)
• choice Golden paradise: Rs 1,320 per sq.ft (2024)
• C.R.Garden: Rs 2,475 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 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi nagar?

The Bharathi nagar area is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thirumazhisai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bharathi nagar?

The current guideline value of Bharathi nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 70 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, representing an overall increase of 1,471% from 2002 to 2024.

What is the land classification for Bharathi nagar?

The land classification for Bharathi nagar is Residential Special Type - I.

What is the median guideline value for streets in Thirumazhisai?

The median guideline value for streets in Thirumazhisai is Rs 1,320 per sq.ft for the year 2024.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.