Guideline Value for Bharathidasan Street (Nilamangai Nagar)

Bharathidasan Street (Nilamangai Nagar) guideline value

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

How the guideline value of Bharathidasan Street (Nilamangai Nagar) has changed

Over the years, the guideline value for Bharathidasan Street (Nilamangai Nagar) has seen several revisions. The 2007 revision set the value at Rs 1,323 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 165% rise. However, there was a decrease to Rs 2,345 per sq.ft in the 2017 revision, reflecting a decline of 33%. The value then rose to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 3,900 per sq.ft, an increase of 11% from the previous year.

From the 2017 revision to the 2024 revision, the overall change has been an increase of 49%. When looking at the entire period from 2007 to 2024, the guideline value has increased by a total of 195%. It is worth noting that the register has no figures for the years 2002 and 2003 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 is Rs 3,900 per sq.ft, which is equal to the current figure for Bharathidasan Street (Nilamangai Nagar).

• Bharathidasan nagar: Rs 3,900 per sq.ft (2024)
• Bharathi 2nd Street: Rs 3,900 per sq.ft (2024)
• Bharathi 1st Street: Rs 3,900 per sq.ft (2024)
• Bharathi Street: Rs 3,900 per sq.ft (2024)
• Bharathi Street Nilamangai Nagar: Rs 3,900 per sq.ft (2024)
• Bharathiyar Street Vanuvam Pettai: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan 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, resulting in a total of 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.

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

Which Sub Registrar Office covers Bharathidasan Street (Nilamangai Nagar)?

The Sub Registrar Office that covers Bharathidasan 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adambakkam. 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 duties and registration fees.

When a property is sold, the buyer and seller must consider the guideline value for calculating the applicable fees. This value helps in establishing a fair transaction value that complies with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Bharathidasan Street (Nilamangai Nagar)?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,323 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 195% over the years.

What are the other streets in Adambakkam with the same guideline value?

Other streets in Adambakkam that share the same guideline value of Rs 3,900 per sq.ft include Bharathidasan nagar, Bharathi 1st Street, Bharathi 2nd Street, Bharathi Street, Bharathi Street Nilamangai Nagar, and Bharathiyar Street Vanuvam Pettai.

What is the registration fee for properties in Bharathidasan Street (Nilamangai Nagar)?

The registration fee for properties in Bharathidasan Street (Nilamangai Nagar) is calculated based on the guideline value. For example, a property valued at Rs 39,00,000 would incur a registration fee of Rs 78,000 at 2%.

Which office handles the registration for Bharathidasan Street (Nilamangai Nagar)?

The Alandur Sub Registrar Office handles the registration for Bharathidasan Street (Nilamangai Nagar), located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.