Guideline Value for BHAKATH SINGH NAGAR

Bhakath Singh Nagar guideline value

The current guideline value of Bhakath Singh Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bhakath Singh Nagar has changed

The guideline value for Bhakath Singh Nagar has seen several revisions over the years. In 2012, the value was Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,000 per sq.ft in 2023, and further rose to Rs 4,400 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making the current value of Bhakath Singh Nagar above the median.

• Bharathi Nagar: Rs 1,700 per sq.ft (2024)
• B.C.N.Nagar: Rs 2,200 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)
• BHARATHI NAGAR 4th STREET: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bhakath Singh Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 accurate calculations.

Which Sub Registrar Office covers Bhakath Singh Nagar?

The Sub Registrar Office that covers Bhakath Singh 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 Okkiyamthuraipakkam

The guideline value is a crucial factor when buying or selling property in Okkiyamthuraipakkam. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction process.

When you register a property, the guideline value is considered for calculating the applicable charges, ensuring that the transaction is in compliance with local regulations. This value helps both buyers and sellers understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Bhakath Singh Nagar?

The current guideline value of Bhakath Singh Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification of Bhakath Singh Nagar?

Bhakath Singh Nagar is classified as Residential Class I Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Bhakath Singh Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,08,000 at 7%.