Guideline Value for B.C.N.NAGAR

B.C.N.Nagar guideline value

The current guideline value of B.C.N.Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO and is classified as Residential Class II Type - III.

How the guideline value of B.C.N.Nagar has changed

The guideline value of B.C.N.Nagar has undergone several revisions over the years. The earliest recorded value in 2003 was Rs 266 per sq.ft. This increased significantly to Rs 800 per sq.ft in 2007, followed by a substantial jump to Rs 2,000 per sq.ft in 2012. However, in 2017, the value decreased to Rs 1,340 per sq.ft. The value then rose to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision.

In terms of percentage changes, from 2003 to 2007, the value increased by 201%. From 2007 to 2012, it saw a rise of 150%. However, there was a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and finally, a rise of 10% occurred from 2023 to 2024. Overall, the guideline value has increased by 727% from 2003 to 2024.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of B.C.N.Nagar is below this median.

• Bhakath Singh Nagar: Rs 4,400 per sq.ft (2024)
• Balavinayagar Avenue: Rs 4,400 per sq.ft (2024)
• Bharathi Nagar: Rs 1,700 per sq.ft (2024)
• BHARATHI NAGAR 1st STREET: Rs 2,200 per sq.ft (2024)
• BHARATHI NAGAR 2nd STREET: Rs 2,200 per sq.ft (2024)
• BHARATHI NAGAR 3rd STREET: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in B.C.N.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 information.

Which Sub Registrar Office covers B.C.N.Nagar?

B.C.N.Nagar falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. For further details, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which property transactions must be registered. This ensures that the property is not undervalued during the registration process.

When registering a property, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of B.C.N.Nagar?

The current guideline value of B.C.N.Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 266 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 727% over this period.

What is the registration office for B.C.N.Nagar?

The registration office for B.C.N.Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is the stamp duty calculated for properties in B.C.N.Nagar?

Stamp duty for properties in B.C.N.Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with B.C.N.Nagar's guideline value being below this median.