Guideline Value for BHAKTHA VEDANTHASWAMY ROAD

Bhaktha Vedanthaswamy Road guideline value

The current guideline value of Bhaktha Vedanthaswamy Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in the Sholinganallur - 1 village under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Bhaktha Vedanthaswamy Road has changed

The guideline value for Bhaktha Vedanthaswamy Road has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is an increase from Rs 3,000 per sq.ft in 2023, marking a change of +10%. Prior to that, the value was Rs 2,010 per sq.ft in 2017, showing a significant increase of +49% to 2023.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by +64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Bhaktha Vedanthaswamy Road above this median at Rs 3,300 per sq.ft.

• Bharathi Nagar 1st Cross Street 1st Joint: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar 1st Cross Street 2nd Joint: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar 1st Cross Street 3rd Joint: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar 1st Road: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar 2nd Road: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bhaktha Vedanthaswamy Road

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhaktha Vedanthaswamy Road?

The Sub Registrar Office that covers Bhaktha Vedanthaswamy Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sholinganallur - 1. 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 helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Bhaktha Vedanthaswamy Road?

The current guideline value of Bhaktha Vedanthaswamy Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, which is an overall increase of +64%.

What is the land classification for Bhaktha Vedanthaswamy Road?

Bhaktha Vedanthaswamy Road is classified as Residential Class II Type - I.

Where is the Neelankarai Sub Registrar Office located?

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

How is the stamp duty calculated for properties on Bhaktha Vedanthaswamy Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 2,97,000 in duties and fees.