Guideline Value for Bharthi Nagar 2nd Street

Bharthi Nagar 2nd Street guideline value

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

The guideline value for Bharthi Nagar 2nd Street has undergone several revisions over the years. The earliest recorded 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 105% rise. In 2012, the value was revised to Rs 4,000 per sq.ft, showing a substantial increase of 300%. However, the value dropped to Rs 2,680 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 4,400 per sq.ft, a 10% increase from the previous year.

There is no recorded guideline value for Bharthi Nagar 2nd Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 803%.

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, which means that the 2024 guideline value of Bharthi Nagar 2nd Street is above this median.

• Bharthi Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Bharthi Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Bharthi Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Bharthi Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Bharthi Nagar 1st Cross 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 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 at 7% would amount to 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 the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bharthi Nagar 2nd Street?

The Sub Registrar Office that covers Bharthi Nagar 2nd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that are payable when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When you register a property, the guideline value helps establish a fair basis for taxation. It is essential for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value of Bharthi Nagar 2nd 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 Street?

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

Where can I find the Sub Registrar Office for Bharthi Nagar 2nd Street?

The Sub Registrar Office for Bharthi Nagar 2nd Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Bharthi Nagar 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 3,08,000 at a rate of 7%.