Guideline Value for Bharthipuram 3rd Street

Bharthipuram 3rd Street guideline value

The current guideline value of Bharthipuram 3rd Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village under the Pallavaram SRO, and it falls under the Commercial Class I Type - II land classification.

How the guideline value of Bharthipuram 3rd Street has changed

The guideline value for Bharthipuram 3rd Street has undergone several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 400% increase. However, in 2017, the value dropped to Rs 1,675 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, showing a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the 2023 figure.

The register for 2002 and 2003 has no figure for Bharthipuram 3rd Street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, placing Bharthipuram 3rd Street's 2024 figure above that median.

• Bharthipuram 1st Street & 2nd Street: Rs 2,750 per sq.ft (2024)
• Bharthipuram 4th Street: Rs 2,750 per sq.ft (2024)
• Bharthipuram: Rs 2,750 per sq.ft (2024)
• Bhavani Nagar: Rs 2,200 per sq.ft (2024)
• Bhel Avenue: Rs 2,200 per sq.ft (2024)
• Bharathipuram Kattabomman Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bharthipuram 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty is charged at 7%, which totals Rs 1,92,500, and the registration fee is 2%, amounting to Rs 55,000. Together, the total cost for stamp duty and registration fee would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bharthipuram 3rd Street?

The Sub Registrar Office that covers Bharthipuram 3rd 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 Nemilicherry

The guideline value is a crucial factor during the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately in accordance with government regulations.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that the fees are based on the official valuation, which helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Bharthipuram 3rd Street?

The current guideline value of Bharthipuram 3rd Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 450% over the years.

What is the land classification for Bharthipuram 3rd Street?

Bharthipuram 3rd Street is classified as Commercial Class I Type - II.

Where can I find the Sub Registrar Office for Bharthipuram 3rd Street?

The Sub Registrar Office for Bharthipuram 3rd Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Bharthipuram 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.