Guideline Value for Bharathiyar Nagar

Bharathiyar Nagar guideline value

The current guideline value of Bharathiyar Nagar is Rs 2,450 per sq.ft, effective from 1 July 2024. This area is located in Moulivakkam village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Bharathiyar Nagar has changed

The guideline value for Bharathiyar Nagar has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 153 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2007, followed by a substantial rise to Rs 2,200 per sq.ft in 2012. However, there was a decrease to Rs 1,474 per sq.ft in 2017. The value then rose to Rs 2,200 per sq.ft in 2023, and finally, it is set at Rs 2,450 per sq.ft from July 2024. The register has no figure for this street in 2002.

The changes between these revisions are notable. From 2003 to 2007, the guideline value increased by 227%. Then, from 2007 to 2012, it saw a decrease of 33%. The value surged by 340% from 2012 to 2017, followed by a 49% increase from 2017 to 2023. The latest revision from 2023 to 2024 reflects an increase of 11%. Overall, from 2003 to 2024, the guideline value has risen by 1501%.

Guideline values in Moulivakkam

In Moulivakkam, there are 44 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,000 to Rs 3,900 per sq.ft. The median value is Rs 2,450 per sq.ft, which is the same as the guideline value for Bharathiyar Nagar.

• Chandramouleeswarar Nagar: Rs 2,450 per sq.ft (2024)
• Bajanai koil Street: Rs 2,450 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 2,450 per sq.ft (2024)
• Dhanalakshmi Nagar Extension: Rs 2,450 per sq.ft (2024)
• Annamalai Avenue: Rs 3,000 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 2,450 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,450 per sq.ft, the total guideline value would be Rs 24,50,000. The stamp duty at 7% would amount to Rs 1,71,500, and the registration fee at 2% would be Rs 49,000, bringing the total to Rs 2,20,500. It is important to note that the 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 details.

Which Sub Registrar Office covers Bharathiyar Nagar?

The Sub Registrar Office that covers Bharathiyar Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Moulivakkam. It serves as a benchmark for determining the minimum value at which property can be registered. Buyers and sellers must be aware that the guideline value impacts the stamp duty and registration fees applicable during the transaction.

When purchasing property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This is essential for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar?

The current guideline value of Bharathiyar Nagar is Rs 2,450 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 153 per sq.ft in 2003 to Rs 2,450 per sq.ft in 2024, marking an overall increase of 1501% over the years.

What are the stamp duty and registration fees in Bharathiyar Nagar?

For a property valued at Rs 24,50,000, the stamp duty would be Rs 1,71,500 and the registration fee would be Rs 49,000, totaling Rs 2,20,500.

Which office handles registrations for Bharathiyar Nagar?

The Kunrathur Sub Registrar Office handles registrations for Bharathiyar Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

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

The guideline value is used as a benchmark for property transactions, determining the minimum value for registration and impacting the applicable stamp duty and registration fees.