Guideline Value for BHARATHI NAGAR 2ND ROAD

Bharathi Nagar 2nd Road guideline value

The current guideline value of Bharathi Nagar 2nd Road is Rs 2,200 per sq.ft, effective from 1 July 2024. This road is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Class II Type - III.

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

The guideline value register has no figures for Bharathi Nagar 2nd Road for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is from 2024, which sets the guideline value at Rs 2,200 per sq.ft.

There have been no changes between the revisions listed above, and the 2024 figure is consistent with the median guideline value for this area.

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 guideline value is Rs 2,200 per sq.ft, which aligns with the 2024 figure for Bharathi Nagar 2nd Road.

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

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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, totaling Rs 1,98,000. 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 Bharathi Nagar 2nd Road?

The Bharathi Nagar 2nd Road is covered by 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 Sholinganallur - 1

The guideline value is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees payable to the government.

It is important to note that the guideline value is used to ensure transparency and standardization in property transactions. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Bharathi Nagar 2nd Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value register has no figures for Bharathi Nagar 2nd Road for the years 2002, 2003, 2007, 2012, 2017, and 2023. The latest revision in 2024 sets the value at Rs 2,200 per sq.ft.

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

Bharathi Nagar 2nd Road is classified as Residential Class II Type - III under the Neelankarai SRO.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot at Rs 2,200 per sq.ft would have a total cost of Rs 1,98,000 for these fees.

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.