Guideline Value for Bharthi Nagar 2nd Cross Street

Bharthi Nagar 2nd Cross Street guideline value

The current guideline value of Bharthi Nagar 2nd Cross 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 2nd Cross Street has changed

The guideline value for Bharthi Nagar 2nd Cross Street has undergone several revisions over the years. In 2003, the value was Rs 487 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, reflecting a significant rise of 105%. The value then surged to Rs 4,000 per sq.ft in 2012, marking a 300% increase. However, it decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and now stands at Rs 4,400 per sq.ft in the 2024 revision, representing a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 803%. It is important to note that the guideline value register does not have a figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Bharthi Nagar 2nd Cross Street's 2024 figure above this median.

• Bharthi Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Bharthi Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Bharthi Nagar 1st Cross 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 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharthi Nagar 2nd Cross Street?

The Sub Registrar Office that covers Bharthi Nagar 2nd Cross 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 further assistance.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees applicable to the transaction.

When you buy or sell a property, the guideline value ensures transparency and fairness in the registration process. It helps in assessing the appropriate fees that need to be paid to the government, thereby facilitating a smoother transaction.

Frequently asked questions

What is the current guideline value of Bharthi Nagar 2nd Cross Street?

The current guideline value of Bharthi Nagar 2nd Cross 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 from Rs 487 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 803% over the years.

What is the land classification for Bharthi Nagar 2nd Cross Street?

Bharthi Nagar 2nd Cross Street is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,96,000, based on the guideline value of Rs 44,00,000.

Which office handles the registration for properties in Bharthi Nagar 2nd Cross Street?

The registration for properties in Bharthi Nagar 2nd Cross Street is handled by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.