Guideline Value for Bharathvaj Nagar

Bharathvaj Nagar guideline value

The current guideline value of Bharathvaj Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Bharathvaj Nagar has changed

The guideline value for Bharathvaj Nagar has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 150 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in 2012, marking a 700% rise. However, it dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 1,200 per sq.ft in 2023, followed by another increase to Rs 1,320 per sq.ft in 2024, reflecting a 10% change.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 780%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Bharathvaj Nagar's 2024 figure below that median.

• Bharath Nagar: Rs 990 per sq.ft (2024)
• Bhavani Nagar: Rs 1,100 per sq.ft (2024)
• Bhuvaneshwari Nagar: Rs 1,980 per sq.ft (2024)
• Bhuvaneshwari Nagar Extn: Rs 1,980 per sq.ft (2024)
• Bhaggyam Gopalakrishnan Nagar: Rs 2,960 per sq.ft (2024)
• Casa Grand: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathvaj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost for these fees to Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathvaj Nagar?

The Sub Registrar Office that covers Bharathvaj Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Varadarajapuram. 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 duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it directly impacts the financial obligations associated with the transaction. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can affect the total cost of the property purchase.

Frequently asked questions

What is the current guideline value of Bharathvaj Nagar?

The current guideline value of Bharathvaj Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value of Bharathvaj Nagar has increased significantly, from Rs 150 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, marking an overall increase of 780%.

What are the other streets in Varadarajapuram?

Other streets in Varadarajapuram include Bharath Nagar, Bhavani Nagar, Bhuvaneshwari Nagar, Bhuvaneshwari Nagar Extn, Bhaggyam Gopalakrishnan Nagar, and Casa Grand, each with their respective guideline values for 2024.

What is the stamp duty rate for property in Bharathvaj Nagar?

The stamp duty rate for property transactions in Bharathvaj Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Bharathvaj Nagar located?

The Sub Registrar Office for Bharathvaj Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.