Guideline Value for Bharath Nagar

Bharath Nagar guideline value

The current guideline value of Bharath Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This classification falls under Residential Class I Type - II.

How the guideline value of Bharath Nagar has changed

The guideline value for Bharath Nagar has seen several revisions over the years. In 2003, the value was Rs 181 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007. Following this, the value rose dramatically to Rs 3,000 per sq.ft in 2012, marking a 400% increase. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value then climbed to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 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 1,723%. It is important to note that the register has no figure for Bharath Nagar for the year 2002.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value for Bharath Nagar.

• Bharthi Nagar 1st Cross Street: Rs 4,400 per sq.ft (2024)
• Bharthi Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Bharthi Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Bharthi Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Bharthi Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Bharthi Nagar 3rd Street: Rs 4,400 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 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

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 details.

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

The guideline value is a crucial aspect when registering property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is recorded accurately. This helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Bharath Nagar?

The current guideline value of Bharath Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 181 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 1,723% over this period.

What is the land classification for Bharath Nagar?

Bharath Nagar falls under the Residential Class I Type - II land classification.

Where is the Pallavaram Sub Registrar Office located?

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

How is the 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, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.