Guideline Value for Bharathy Street

Bharathy Street guideline value

The current guideline value of Bharathy Street in Cantonment Pallavaram village is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Bharathy Street has changed

Over the years, the guideline value of Bharathy Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision raised it to Rs 2,500 per sq.ft, and the most recent 2024 revision has further increased it to Rs 2,700 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

The changes between revisions are significant. From 2007 to 2012, there was a substantial increase of 150%. However, from 2012 to 2017, the value dropped by 33%. The following years saw a remarkable 49% rise from 2017 to 2023, and an 8% increase from 2023 to 2024. Overall, the guideline value has risen by 170% from 2007 to 2024.

Guideline values in Cantonment Pallavaram

In Cantonment Pallavaram, there are 81 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which aligns with the 2024 guideline value of Bharathy Street.

• Bharath Nagar(Semman Nagar): Rs 2,200 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 Bharathy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 Bharathy Street?

The Sub Registrar Office that covers Bharathy Street 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 Cantonment Pallavaram

The guideline value plays a crucial role in the registration process of property transactions in Cantonment Pallavaram. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property. The guideline value is determined by the government and is updated periodically to reflect changes in the market.

When a property is sold, the buyer must ensure that the sale price is equal to or higher than the guideline value to avoid any discrepancies during registration. This ensures that the transaction is legally recognized and that all associated fees are accurately calculated based on the guideline value.

Frequently asked questions

What is the current guideline value of Bharathy Street?

The current guideline value of Bharathy Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over the years.

What is the land classification of Bharathy Street?

Bharathy Street is classified as Residential Class II Type - I under the current guidelines.

Where can I find the Pallavaram Sub Registrar Office?

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

How is stamp duty calculated for properties in Bharathy Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 27,00,000 would incur a stamp duty of Rs 1,89,000 at a rate of 7%.