Guideline Value for Bharathidasan Nagar

Bharathidasan Nagar guideline value

The current guideline value of Bharathidasan Nagar, located in Karanodai village under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Bharathidasan Nagar has changed

The guideline value for Bharathidasan Nagar has seen several revisions over the years. In 2002, the value was Rs 282 per sq.ft, which changed to Rs 30 per sq.ft in 2003, marking a significant decrease of 89%. The value then increased dramatically to Rs 200 per sq.ft in 2007, representing a rise of 567%. By 2012, the guideline value was Rs 400 per sq.ft, showing a 100% increase from the previous revision. However, it then decreased to Rs 268 per sq.ft in 2017, which was a drop of 33%.

From 2017 to 2023, the value rose to Rs 400 per sq.ft, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 440 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 56%.

Guideline values in Karanodai

In Karanodai, there are 38 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,000 per sq.ft, with a median value of Rs 1,210 per sq.ft. Bharathidasan Nagar's current guideline value is below this median.

• Bungalaw Mettu Street: Rs 1,210 per sq.ft (2024)
• Chelliamman Koil Street: Rs 1,210 per sq.ft (2024)
• Chendur Murugan Nagar: Rs 440 per sq.ft (2024)
• Chengalamman Nagar: Rs 440 per sq.ft (2024)
• Dharmaraja Koil Street: Rs 1,210 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathidasan Nagar?

The Sub Registrar Office that covers Bharathidasan Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Karanodai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers to be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bharathidasan Nagar?

The current guideline value of Bharathidasan Nagar is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, from Rs 282 per sq.ft in 2002 to Rs 440 per sq.ft in 2024, reflecting various increases and decreases over the years.

What is the land classification for Bharathidasan Nagar?

Bharathidasan Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What is the stamp duty rate for property in Bharathidasan Nagar?

The stamp duty rate for property in Bharathidasan Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Bharathidasan Nagar located?

The Sub Registrar Office for Bharathidasan Nagar is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.