Guideline Value for Bharath Nagar

Bharath Nagar guideline value

The current guideline value of Bharath Nagar, located in Kilkattalai village under the Pallavaram SRO, is Rs 2,530 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - II land classification.

How the guideline value of Bharath Nagar has changed

The guideline value for Bharath Nagar has undergone several revisions over the years. In 2003, the guideline value was Rs 263 per sq.ft, which saw a significant increase to Rs 500 per sq.ft in 2007. Following this, the value surged dramatically to Rs 2,300 per sq.ft in 2012, marking a 360% increase from the previous revision. However, it then decreased to Rs 1,541 per sq.ft in 2017, reflecting a decline of 33%.

From 2017 to 2023, the guideline value rose sharply by 49% to reach Rs 2,300 per sq.ft. The most recent revision in 2024 has set the value at Rs 2,530 per sq.ft, representing a 10% increase from the previous year. The register has no figure for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value is Rs 2,530 per sq.ft, which is equal to the current guideline value of Bharath Nagar.

• Bharath Nagar Main Road: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total to Rs 2,27,700. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharath Nagar?

The Sub Registrar Office that covers Bharath 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 more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kilkattalai. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is assessed to calculate the applicable stamp duty and registration fees. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Bharath Nagar?

The current guideline value of Bharath Nagar 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 increased from Rs 263 per sq.ft in 2003 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 862% over this period.

What is the median guideline value in Kilkattalai?

The median guideline value in Kilkattalai is Rs 2,530 per sq.ft, which is the same as the current guideline value for Bharath Nagar.

How is stamp duty calculated for properties in Bharath Nagar?

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.

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

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