Guideline Value for BHARATHIPURAM KATTABOMMAN STREET

Bharathipuram Kattabomman Street guideline value

The current guideline value of Bharathipuram Kattabomman Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village, under the Pallavaram SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Bharathipuram Kattabomman Street has changed

The guideline value for Bharathipuram Kattabomman Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, an increase of 10% from the 2023 revision of Rs 2,500 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,675 per sq.ft, reflecting a significant increase of 49% from the previous 2012 revision, which was Rs 2,500 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The fluctuations in the values indicate the changing landscape of the area, with the most substantial change occurring between 2017 and 2023. The 2012 to 2017 period saw a decrease of 33% in the guideline value.

Guideline values in Nemilicherry

Nemilicherry village has a total of 172 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 2,160 per sq.ft. Bharathipuram Kattabomman Street's 2024 guideline value is above this median.

• Bharathi Heavy Electrical Avenue: Rs 2,200 per sq.ft (2024)
• Bharthipuram: Rs 2,750 per sq.ft (2024)
• Bharthipuram 1st Street & 2nd Street: Rs 2,750 per sq.ft (2024)
• Bharthipuram 3rd Street: Rs 2,750 per sq.ft (2024)
• Bharthipuram 4th Street: Rs 2,750 per sq.ft (2024)
• Bhavani Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathipuram Kattabomman Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost for these fees Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathipuram Kattabomman Street?

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

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

The guideline value is a crucial factor when registering property in Nemilicherry. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is recorded accurately in the official registry.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures transparency in property transactions and helps in maintaining uniformity in property valuations across the region.

Frequently asked questions

What is the current guideline value of Bharathipuram Kattabomman Street?

The current guideline value of Bharathipuram Kattabomman Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, with various revisions in between. The most significant increase was 49% from 2017 to 2023.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500. These fees are calculated based on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers this street?

The Pallavaram Sub Registrar Office covers Bharathipuram Kattabomman Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Bharathipuram Kattabomman Street?

Bharathipuram Kattabomman Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.