Guideline Value for BHARATHI NAGAR 1ST CROSS STREET

Bharathi Nagar 1st Cross Street guideline value

The current guideline value of Bharathi Nagar 1st Cross Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bharathi Nagar 1st Cross Street has changed

The guideline value for Bharathi Nagar 1st Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, which is an increase from Rs 2,500 per sq.ft in 2023, marking a change of +12%. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, indicating a significant increase of +49% to the 2023 figure. The 2012 revision also had a value of Rs 2,500 per sq.ft, which was a decrease of -33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by +12%.

There are no figures available for the years 2002, 2003, and 2007 for Bharathi Nagar 1st Cross Street. The 2012 revision was the first recorded figure for this street, and it has since seen fluctuations leading to the current value.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. Bharathi Nagar 1st Cross Street's 2024 guideline value is below this median.

• Bharathi Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar 2nd Cross Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar 2nd Main Road: Rs 2,800 per sq.ft (2024)
• Bharathidasan Street: Rs 3,900 per sq.ft (2024)
• Bharathi Nagar Road (Street): Rs 2,800 per sq.ft (2024)
• Bharathiyar 1st Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, totaling Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar 1st Cross Street?

The Sub Registrar Office that covers Bharathi Nagar 1st Cross Street 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 Palavakkam

The guideline value plays a crucial role during property registration in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers need to be aware that these charges are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Bharathi Nagar 1st Cross Street?

The current guideline value of Bharathi Nagar 1st Cross Street is Rs 2,800 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 2,800 per sq.ft in 2024. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

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

For a property valued at Rs 28,00,000, the stamp duty is Rs 1,96,000 and the registration fee is Rs 56,000, totaling Rs 2,52,000.

Which office handles registrations for Bharathi Nagar 1st Cross Street?

The Neelankarai Sub Registrar Office handles registrations for Bharathi Nagar 1st Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Bharathi Nagar 1st Cross Street?

Bharathi Nagar 1st Cross Street is classified as Residential Class III Type - I.