Guideline Value for Bharathidhasan Nagar

Bharathidhasan Nagar guideline value

The current guideline value of Bharathidhasan Nagar, located in Mugappair village under the Konnur SRO, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Bharathidhasan Nagar has changed

The guideline value for Bharathidhasan Nagar has seen several revisions over the years. Starting from Rs 589 per sq.ft in 2002, the value increased to Rs 647 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2007, and then to Rs 3,500 per sq.ft in 2012. However, it experienced a decrease to Rs 2,345 per sq.ft in 2017. The value then increased again to Rs 3,500 per sq.ft in 2023 before reaching the current figure of Rs 3,800 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 10% from 2002 to 2003, 85% from 2003 to 2007, and 192% from 2007 to 2012. There was a decrease of 33% from 2012 to 2017, followed by a 49% increase from 2017 to 2023, and a further increase of 9% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 545%.

Guideline values in Mugappair

In Mugappair village, there are 224 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value of Bharathidhasan Nagar is below this median.

• Bharathi Nagar: Rs 3,800 per sq.ft (2024)
• Bharathiar Street: Rs 3,800 per sq.ft (2024)
• Bharathiar I Street and II Street: Rs 3,800 per sq.ft (2024)
• Bharathi Salai: Rs 3,800 per sq.ft (2024)
• Balu Nagar: Rs 7,100 per sq.ft (2024)
• Burner Salai: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidhasan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees together to Rs 3,42,000. 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 Bharathidhasan Nagar?

The Sub Registrar Office that covers Bharathidhasan Nagar is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that the fees are based on the established value of the property as per the local regulations.

Frequently asked questions

What is the current guideline value of Bharathidhasan Nagar?

The current guideline value of Bharathidhasan Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 589 per sq.ft in 2002 to Rs 3,800 per sq.ft in 2024, with various revisions in between, including a decrease in 2017.

What is the land classification of Bharathidhasan Nagar?

Bharathidhasan Nagar is classified as Residential Class II Type - I.

Where is the Konnur Sub Registrar Office located?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is stamp duty calculated in Bharathidhasan Nagar?

Stamp duty in Bharathidhasan Nagar is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.