Guideline Value for Bharath Nagar Main Road

Bharath Nagar Main Road guideline value

The current guideline value of Bharath Nagar Main Road in Kilkattalai village is Rs 2,530 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office and is classified as Residential Class I Type - II.

How the guideline value of Bharath Nagar Main Road has changed

The guideline value for Bharath Nagar Main Road has seen several revisions over the years. Starting from Rs 245 per sq.ft in 2003, it increased to Rs 500 per sq.ft in 2007, marking a significant rise of 104%. By 2012, the value reached Rs 2,300 per sq.ft, reflecting a substantial increase of 360%. However, the value dropped by 33% to Rs 1,541 per sq.ft in 2017. Following this, the guideline value surged to Rs 2,300 per sq.ft in 2023, and then to Rs 2,530 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 933%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a range of guideline values across its 194 streets under the Pallavaram SRO, with figures ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,530 per sq.ft, which is the same as the current value for Bharath Nagar Main Road.

• Bharath Nagar: Rs 2,530 per sq.ft (2024)
• Bhavani Nagar: Rs 2,530 per sq.ft (2024)
• Bharathi Nagar: Rs 2,530 per sq.ft (2024)
• Big Street: Rs 2,530 per sq.ft (2024)
• Bluebell School Main Road: Rs 2,160 per sq.ft (2024)
• Boobathi Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Bharath Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, totaling Rs 2,27,700. 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 Bharath Nagar Main Road?

The Bharath Nagar Main Road is covered by 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 Kilkattalai

The guideline value is a crucial factor when registering property transactions in Kilkattalai. It is used to determine the stamp duty and registration fees that must be paid at the time of registration, ensuring that both buyers and sellers are aware of the legal obligations involved in property transactions.

When buying or selling property, the guideline value serves as a benchmark for the minimum price at which a property can be registered. This helps in maintaining transparency and fairness in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Bharath Nagar Main Road?

The current guideline value of Bharath Nagar Main Road is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 245 per sq.ft in 2003 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 933% over the years.

What is the land classification for Bharath Nagar Main Road?

Bharath Nagar Main Road is classified as Residential Class I Type - II under the guideline value register.

Where can I find the registration office for Bharath Nagar Main Road?

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

How is stamp duty calculated for properties in Bharath Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 25,30,000, the stamp duty at 7% would be Rs 1,77,100.