Guideline Value for Bharathidasan nagar

Bharathidasan nagar guideline value

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

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 331 per sq.ft, which increased to Rs 378 per sq.ft in 2003. Following this, the value rose significantly to Rs 900 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it decreased to Rs 2,345 per sq.ft in 2017. In 2023, the value was revised to Rs 3,500 per sq.ft, and the most recent revision in 2024 set it at Rs 3,900 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the overall increase is 1,078%. The most notable changes include a 289% rise from 2007 to 2012, followed by a 49% increase from 2017 to 2023. The value saw an 11% increase from 2023 to 2024. There are no figures for the revisions in the years not listed 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 value is Rs 3,900 per sq.ft, which is the same as the 2024 guideline value for Bharathidasan nagar.

• Bharathidasan Street (Nilamangai 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 nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value would be 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, making the total Rs 3,51,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathidasan nagar?

The Sub Registrar Office that covers Bharathidasan 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 during property registration in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The higher of the guideline value and the sale price is considered for calculating these charges.

When buyers and sellers engage in a transaction, the guideline value ensures that the property is registered at a fair value, reflecting the official rates set by the government. This process helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Bharathidasan nagar?

The current guideline value of Bharathidasan 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 increased from Rs 331 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, showing an overall increase of 1,078% over the years.

What are the stamp duty and registration fees for properties in Bharathidasan nagar?

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

Which office handles property registrations in Bharathidasan nagar?

The Alandur Sub Registrar Office handles property registrations in Bharathidasan nagar, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that properties are registered at a fair value, reflecting the official rates set by the government.