Guideline Value for BHARATHI NAGAR 1st STREET

BHARATHI NAGAR 1st STREET guideline value

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

How the guideline value of BHARATHI NAGAR 1st STREET has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase of 10% from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing BHARATHI NAGAR 1st STREET's 2024 value below this median.

• 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)
• Bharathi Nagar: Rs 1,700 per sq.ft (2024)
• BHARATHI NAGAR 5th STREET: Rs 2,200 per sq.ft (2024)
• BHARATHI NAGAR 6th STREET: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in BHARATHI NAGAR 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to 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, bringing the total cost for these fees to 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHARATHI NAGAR 1st STREET?

The Sub Registrar Office that covers BHARATHI NAGAR 1st 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 details.

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

The guideline value is a crucial factor when registering property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and financial purposes. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of BHARATHI NAGAR 1st STREET?

The current guideline value of BHARATHI NAGAR 1st STREET 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for BHARATHI NAGAR 1st STREET?

BHARATHI NAGAR 1st STREET is classified as Residential Class II Type - III.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers this street?

The Neelankarai Sub Registrar Office covers BHARATHI NAGAR 1st STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.