Guideline Value for Bharthipuram

Bharthipuram guideline value

The current guideline value of Bharthipuram, located in Nemilicherry village under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Bharthipuram has changed

The guideline value of Bharthipuram has undergone several revisions over the years. In 2007, the guideline value was Rs 1,254 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. This was a significant increase of 99%. However, from 2012 to 2017, the value decreased to Rs 1,675 per sq.ft, marking a decline of 33%. The next revision in 2017 saw a substantial increase to Rs 2,500 per sq.ft in 2023, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

The register has no figure for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 119%.

Guideline values in Nemilicherry

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

• Bharthipuram 1st Street & 2nd Street: Rs 2,750 per sq.ft (2024)
• Bharthipuram 3rd Street: Rs 2,750 per sq.ft (2024)
• Bharthipuram 4th Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, the total cost for these fees would be Rs 2,47,500. 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 Bharthipuram?

The Sub Registrar Office that covers Bharthipuram 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 in the registration process when buying or selling property in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharthipuram?

The current guideline value of Bharthipuram 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 1,254 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 119% over the years.

What are the other streets in Nemilicherry with their guideline values?

Other streets in Nemilicherry include Bharthipuram 1st Street & 2nd Street, Bharthipuram 3rd Street, Bharthipuram 4th Street, Bhavani Nagar, Bhel Avenue, and Bharathipuram Kattabomman Street, with values ranging from Rs 2,200 to Rs 2,750 per sq.ft in 2024.

How is stamp duty calculated in Bharthipuram?

Stamp duty in Bharthipuram is calculated at 7% of the higher value between the guideline value and the sale price. Registration fees are charged at 2% of the same higher value.

Where can I find the Sub Registrar Office for Bharthipuram?

The Sub Registrar Office for Bharthipuram is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. You can find more information through the relevant links.