Guideline Value for Bharathi Nagar

Bharathi Nagar guideline value

The current guideline value for Bharathi Nagar in Kilkattalai village is Rs 2,530 per sq.ft, effective from 1 July 2024. This area falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Bharathi Nagar has changed

The guideline value for Bharathi Nagar has seen several revisions over the years. In 2003, the guideline value was Rs 241 per sq.ft, which increased to Rs 400 per sq.ft in 2007. This was followed by a significant rise to Rs 2,300 per sq.ft in 2012. However, in 2017, the value dropped to Rs 1,541 per sq.ft before increasing again to Rs 2,300 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 2,530 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 950%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Kilkattalai

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

• Bharath Nagar: Rs 2,530 per sq.ft (2024)
• Bharath Nagar Main Road: Rs 2,530 per sq.ft (2024)
• Bhavani Nagar: Rs 2,530 per sq.ft (2024)
• Baskar Nagar 1st & 2nd Cross Street: Rs 2,530 per sq.ft (2024)
• Baskar Nagar 1 And 2nd Streets: Rs 2,530 per sq.ft (2024)
• Baskar Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar

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, bringing the total to Rs 2,27,700. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar?

Bharathi Nagar 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 plays a crucial role in the registration process of property transactions in Kilkattalai. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar?

The current guideline value of Bharathi 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 changed significantly, starting from Rs 241 per sq.ft in 2003 to Rs 2,530 per sq.ft in 2024, marking an overall increase of 950% over this period.

What is the land classification of Bharathi Nagar?

Bharathi Nagar is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

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

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

How is stamp duty calculated for properties in Bharathi Nagar?

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