Guideline Value for Bharthi Nagar 1st Street

Bharthi Nagar 1st Street guideline value

The current guideline value of Bharthi Nagar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Bharthi Nagar 1st Street has changed

The guideline value for Bharthi Nagar 1st Street has seen several revisions over the years. The earliest available figure is from 2003, which was Rs 487 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2007, marking a rise of 105%. The value then jumped to Rs 4,000 per sq.ft in 2012, reflecting a 300% increase. However, in 2017, it dropped to Rs 2,680 per sq.ft, a decrease of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and currently stands at Rs 4,400 per sq.ft after a 10% increase in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 803%. It is important to note that the register has no figure for this street for the year 2002.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median value in this area is Rs 3,300 per sq.ft, which means that the guideline value of Bharthi Nagar 1st Street is above this median.

• Bharthi Nagar 1st Cross 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)
• Bharthi Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bharthi Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty, charged at 7%, would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, these fees would total Rs 3,96,000. 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 Bharthi Nagar 1st Street?

The Sub Registrar Office that covers Bharthi Nagar 1st 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 details.

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

The guideline value is an essential component in the registration process of property transactions in Zaminpallavaram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official records.

It is crucial for buyers and sellers to be aware of the current guideline value, as it influences the overall cost of the transaction. This value serves as a benchmark for assessing property transactions and is essential for compliance with local regulations.

Frequently asked questions

What is the current guideline value of Bharthi Nagar 1st Street?

The current guideline value of Bharthi Nagar 1st Street is Rs 4,400 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 487 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 803% over this period.

What are the stamp duty and registration fees for property in Bharthi Nagar 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 44,00,000, leading to a stamp duty of Rs 3,08,000 and a registration fee of Rs 88,000, totaling Rs 3,96,000.

Which office handles property registrations for Bharthi Nagar 1st Street?

The Pallavaram Sub Registrar Office is responsible for property registrations in Bharthi Nagar 1st Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Bharthi Nagar 1st Street?

Bharthi Nagar 1st Street is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.