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Guideline Value

Corporate

Guideline Value for BHARATHI NAGAR 2ND MAIN ROAD

₹2800/sq.ft.

The guideline value for Bharathi Nagar 2nd Main Road 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 Main Road

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Bharathi Nagar 2nd Main Road guideline value

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

How the guideline value of Bharathi Nagar 2nd Main Road has changed

The guideline value for Bharathi Nagar 2nd Main Road has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and most recently, it rose to Rs 2,800 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. The increase from 2023 to 2024 is 12%. Overall, comparing the 2012 revision to the 2024 revision, there has been a total increase of 12% in the guideline value.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Bharathi Nagar 2nd Main Road's 2024 figure below that median.

Stamp duty and registration fee for property in Bharathi Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, these fees would total Rs 2,52,000. It is important to note that 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 details.

Which Sub Registrar Office covers Bharathi Nagar 2nd Main Road?

The Sub Registrar Office that covers Bharathi Nagar 2nd Main Road 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 in the registration process of property transactions in Palavakkam. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value, as it can impact the overall transaction costs. It is essential to consult the latest figures to ensure compliance with local regulations and to understand the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Bharathi Nagar 2nd Main Road?

The current guideline value of Bharathi Nagar 2nd Main Road 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 increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,800 per sq.ft in 2024.

What is the land classification for Bharathi Nagar 2nd Main Road?

Bharathi Nagar 2nd Main Road is classified as Residential Class III Type - I.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For instance, a 1,000 sq.ft plot would incur a total fee of Rs 2,52,000.

Which office handles property registration for Bharathi Nagar 2nd Main Road?

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