Guideline Value for SRI BHARATH NAGAR

Sri Bharath Nagar guideline value

The current guideline value of Sri Bharath Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sri Bharath Nagar has changed

The guideline value for Sri Bharath Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 2,500 per sq.ft. Notably, there was no change in the guideline value from the 2012 revision to the 2023 revision, as both were recorded at Rs 2,500 per sq.ft.

Looking further back, the 2012 revision maintained the same value of Rs 2,500 per sq.ft, and there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Sri Bharath Nagar is below this median.

• Sridevi Amman Street: Rs 2,160 per sq.ft (2024)
• Sridevi Nagar: Rs 3,300 per sq.ft (2024)
• Sri Badhrakaliamman Nagar: Rs 3,300 per sq.ft (2024)
• Sri Elumalaiyan Nagar: Rs 2,750 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 3,520 per sq.ft (2024)
• South Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Bharath Nagar

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 at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to 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 also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Bharath Nagar?

The Sub Registrar Office that covers Sri Bharath Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, within 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 the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is referenced to ensure that the transaction is recorded accurately, and it helps in assessing the taxes applicable for the sale. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Bharath Nagar?

The current guideline value of Sri Bharath Nagar 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 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a 10% increase. There was no change from 2012 to 2023, as both years recorded Rs 2,500 per sq.ft.

What are the stamp duty and registration fees for property in Sri Bharath Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office covers Sri Bharath Nagar?

The Pallavaram Sub Registrar Office covers Sri Bharath Nagar, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the guideline value used in property transactions?

The guideline value is used as a reference for determining the stamp duty and registration fees during property transactions. It ensures accurate recording of transactions and helps assess the applicable taxes.