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Guideline Value

Corporate

Guideline Value for BHARATHI NAGAR 2ND CROSS STREET

₹2800/sq.ft.

The guideline value for Bharathi Nagar 2nd Cross Street in Palavakkam village (Neelankarai SRO, Chennai zone) is Rs 2800 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 12% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavakkam

Village

Neelankarai

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹2800 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bharathi Nagar 2nd Cross Street

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Bharathi Nagar 2nd Cross Street guideline value

The current guideline value of Bharathi Nagar 2nd 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, classified as Residential Class III Type - I.

How the guideline value of Bharathi Nagar 2nd Cross Street has changed

The guideline value for Bharathi Nagar 2nd Cross Street has seen several revisions over the years. The earliest figure available is from 2012, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then increased significantly to Rs 2,500 per sq.ft in 2023, and has now reached Rs 2,800 per sq.ft in the 2024 revision, marking a 12% increase from the previous year.

Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. The overall change from the 2012 revision to the 2024 revision shows a modest increase of 12%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value in this village is Rs 3,300 per sq.ft, indicating that Bharathi Nagar 2nd Cross Street's 2024 figure is below this median.

Stamp duty and registration fee for property in Bharathi Nagar 2nd 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, bringing the total fees to Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar 2nd Cross Street?

The Sub Registrar Office that covers Bharathi Nagar 2nd 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 is a crucial factor in the registration process when buying or selling property in Palavakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is compared to the actual sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer.

Frequently asked questions

What is the current guideline value of Bharathi Nagar 2nd Cross Street?

The current guideline value of Bharathi Nagar 2nd 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 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the median guideline value in Palavakkam?

The median guideline value in Palavakkam is Rs 3,300 per sq.ft, which is higher than the current value of Bharathi Nagar 2nd Cross Street.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price.

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 registration zone.