Guideline Value for BAY VIEW FARMS @ ADHITHTYA RAM NAGAR

Bay View Farms @ Adhithtya Ram Nagar guideline value

The current guideline value for Bay View Farms @ Adhithtya Ram Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024. This property is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Bay View Farms @ Adhithtya Ram Nagar has changed

The guideline value for Bay View Farms @ Adhithtya Ram Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision. The most recent revision in 2024 has further increased the value to Rs 1,700 per sq.ft, marking a change of +13% from the previous year and an overall increase of +69% from 2017.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was +49%, showcasing significant growth in the guideline value over these years.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for this area is Rs 2,200 per sq.ft, placing Bay View Farms @ Adhithya Ram Nagar below this median.

• Bay View Avenue & Drive: Rs 4,400 per sq.ft (2024)
• Bay Watch Layout: Rs 4,400 per sq.ft (2024)
• Bhaktha Vedanthaswamy Road: Rs 3,300 per sq.ft (2024)
• Balamurugan Thottam: Rs 1,700 per sq.ft (2024)
• Balakrishnan Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar 1st Cross Street 1st Joint: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bay View Farms @ Adhithtya Ram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value is Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, making the total cost for these fees Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bay View Farms @ Adhithtya Ram Nagar?

The Sub Registrar Office covering Bay View Farms @ Adhithya Ram Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in property transactions in Sholinganallur - 1, as it determines the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees, which are mandatory during the sale or purchase of property.

When buying or selling property, it is important to be aware of the guideline value as it can affect the overall cost of the transaction. Buyers should ensure that they are aware of the current guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value for Bay View Farms @ Adhithya Ram Nagar?

The current guideline value for Bay View Farms @ Adhithya Ram Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,700 per sq.ft in 2024, representing an overall increase of +69% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which Sub Registrar Office covers this property?

The Neelankarai Sub Registrar Office covers Bay View Farms @ Adhithya Ram Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for this property?

The land classification for Bay View Farms @ Adhithya Ram Nagar is Residential Class IV Type - I.