Guideline Value for Bharath Nagar(Semman Nagar)

Bharath Nagar(Semman Nagar) guideline value

The current guideline value of Bharath Nagar(Semman Nagar) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bharath Nagar(Semman Nagar) has changed

The guideline value for Bharath Nagar(Semman Nagar) has seen several revisions over the years. Starting from the 2003 revision, the guideline value was Rs 123 per sq.ft. This figure increased significantly in the subsequent years, with the 2007 revision showing a value of Rs 300 per sq.ft, marking a 144% increase. The 2012 revision saw the value rise to Rs 2,000 per sq.ft, which was a 567% increase from 2007. However, the 2017 revision brought a decrease to Rs 1,340 per sq.ft, a 33% drop from the previous figure. The value then increased to Rs 2,000 per sq.ft in 2023, followed by the current value of Rs 2,200 per sq.ft in 2024, representing a 10% increase.

Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 1689%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 11,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Bharath Nagar(Semman Nagar) is below this median.

• Bharathy Street: Rs 2,700 per sq.ft (2024)
• Bazaar Road, Police Station Road, Indra Gandhi Road: Rs 4,400 per sq.ft (2024)
• Cbkm: Rs 3,300 per sq.ft (2024)
• Balakrishnan Street: Rs 2,700 per sq.ft (2024)
• Bakthavalsalam Nagar: Rs 2,700 per sq.ft (2024)
• Chidambaranathan Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharath Nagar(Semman Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Therefore, the total cost for stamp duty and registration fees would be Rs 1,98,000. 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 Bharath Nagar(Semman Nagar)?

The Sub Registrar Office that covers Bharath Nagar(Semman Nagar) 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 additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered. This ensures that the property transactions are transparent and that the government receives the appropriate revenue from stamp duties.

When a buyer or seller engages in a property transaction, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are conducted fairly and in accordance with the law.

Frequently asked questions

What is the current guideline value of Bharath Nagar(Semman Nagar)?

The current guideline value of Bharath Nagar(Semman Nagar) is Rs 2,200 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 123 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 1689% over the years.

What is the land classification of Bharath Nagar(Semman Nagar)?

Bharath Nagar(Semman Nagar) is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Bharath Nagar(Semman Nagar)?

The Sub Registrar Office for Bharath Nagar(Semman Nagar) is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Bharath Nagar(Semman Nagar)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.