Guideline Value for BHARATHI STREET

Bharathi Street guideline value

The current guideline value of Bharathi Street in Nanmangalam village is Rs 1,960 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Bharathi Street has changed

The guideline value for Bharathi Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,960 per sq.ft, an increase from Rs 1,800 per sq.ft in 2023, marking a change of +9%. Prior to that, the 2017 revision recorded the value at Rs 1,206 per sq.ft, which was a significant increase of +49% from the 2012 figure of Rs 1,800 per sq.ft. The 2012 revision showed a decrease of -33% from the earlier value, but overall, from 2012 to 2024, the guideline value has increased by +9%.

There are no figures available for the years 2002, 2003, and 2007 in the register for Bharathi Street. The revisions indicate a clear trend of increasing values, particularly from 2017 onwards.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft, with a median value of Rs 2,750 per sq.ft. Bharathi Street's 2024 figure is below that median.

• Bharath Avenue: Rs 1,960 per sq.ft (2024)
• Bramin Street: Rs 2,750 per sq.ft (2024)
• Balasubramaniya Nagar: Rs 1,960 per sq.ft (2024)
• Balaraman Street: Rs 1,960 per sq.ft (2024)
• Balaraman 1 To 2 Streets: Rs 1,960 per sq.ft (2024)
• Balakrishnan Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,960 per sq.ft, the total guideline value amounts to Rs 19,60,000. The stamp duty at 7% would be Rs 1,37,200, and the registration fee at 2% would be Rs 39,200, bringing the total charges to Rs 1,76,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Street?

The Sub Registrar Office that covers Bharathi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nanmangalam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives appropriate revenue based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Bharathi Street?

The current guideline value of Bharathi Street is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2023 to Rs 1,960 per sq.ft in 2024, and from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2012.

What is the land classification for Bharathi Street?

Bharathi Street is classified as Residential Class II Type - I.

Where can I find the registration office for Bharathi Street?

The registration office for Bharathi Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Bharathi Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total charges would include a stamp duty of Rs 1,37,200 and a registration fee of Rs 39,200.