Guideline Value for Bharathipuram

Bharathipuram guideline value

The current guideline value of Bharathipuram, located in Kodambakkam village, is Rs 3,300 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Ashok Nagar SRO and is classified as Residential Class IV Type - II.

How the guideline value of Bharathipuram has changed

The guideline value for Bharathipuram has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017. From 2017 to 2023, the value rose sharply by 49% to Rs 3,000 per sq.ft, and the latest revision in 2024 has further increased it to Rs 3,300 per sq.ft, marking a 10% rise.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which means Bharathipuram's 2024 figure is below this median.

• Bharathi Nagar (NP): Rs 2,700 per sq.ft (2024)
• Bharathi Nagar Main Road (NP): Rs 2,700 per sq.ft (2024)
• Bharathi Street (JPT) Pari Nagar: Rs 4,400 per sq.ft (2024)
• Bharathi Street (M.G.R. Nagar): Rs 3,300 per sq.ft (2024)
• Bharathi Street (W.M): Rs 5,500 per sq.ft (2024)
• Bharathiyar 8th St (Kanu Nagar) NP: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathipuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bharathipuram?

Bharathipuram is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Kodambakkam, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential to be aware of the guideline value as it can influence the overall cost of property transactions. Buyers and sellers should ensure they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bharathipuram?

The current guideline value of Bharathipuram is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 313% over the years.

What are the stamp duty and registration fees for property in Bharathipuram?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Bharathipuram?

Bharathipuram is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Bharathipuram?

Bharathipuram is classified as Residential Class IV Type - II according to the guideline value register.