Guideline Value for BHARATHI NAGAR 5TH STREET

Bharathi Nagar 5th Street guideline value

The current guideline value of Bharathi Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO, classified as Residential Class II Type - III.

How the guideline value of Bharathi Nagar 5th Street has changed

In the 2017 revision, the guideline value for Bharathi Nagar 5th Street was Rs 1,340 per sq.ft. This figure was updated in the 2024 revision to Rs 2,200 per sq.ft, reflecting an increase of 64% over the seven-year period. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

The significant change from 2017 to 2024 indicates a marked adjustment in the guideline value. The 2024 figure of Rs 2,200 per sq.ft aligns with the median guideline value for the village, indicating that Bharathi Nagar 5th Street is positioned within the average range for the 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 is the same as the current value for Bharathi Nagar 5th Street.

• Bharathi Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Annexe 1st Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Annexe 2nd Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar Annexe 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar 5th 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 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.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

Which Sub Registrar Office covers Bharathi Nagar 5th Street?

The Sub Registrar Office that covers Bharathi Nagar 5th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor when registering property transactions in Sholinganallur - 1. It serves as the minimum value for which a property can be registered, ensuring that transactions reflect a standard value for properties in the area.

When buying or selling property, the guideline value will determine the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Bharathi Nagar 5th Street?

The current guideline value of Bharathi Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft, which is a change of 64%.

Are there any years without a guideline value for Bharathi Nagar 5th Street?

Yes, the register has no figures for Bharathi Nagar 5th Street for the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, which is the same as the current value for Bharathi Nagar 5th Street.

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.