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Guideline Value

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Guideline Value for BHARATHI NAGAR 5th STREET

₹2200/sq.ft.

The guideline value for Bharathi Nagar 5th Street in Okkiyamthuraipakkam village (Neelankarai SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Okkiyamthuraipakkam

Village

Neelankarai

SRO

Residential Class II Type - III
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /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 5th Street

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BHARATHI NAGAR 5th STREET guideline value

The current guideline value of BHARATHI NAGAR 5th STREET is Rs 2,200 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, and it falls under the Residential Class II Type - III land classification.

How the guideline value of BHARATHI NAGAR 5th STREET has changed

Looking at the historical revisions, the guideline value for BHARATHI NAGAR 5th STREET has seen several changes. The 2012 revision set the value at Rs 2,000 per sq.ft, which was a decrease of 33% from the Rs 1,340 per sq.ft recorded in the 2017 revision. The value then increased to Rs 2,000 per sq.ft in 2023, marking a significant increase of 49%. The latest revision in 2024 has further raised the guideline value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street in the register. Overall, from the 2012 revision to the current 2024 revision, the guideline value has increased by 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for BHARATHI NAGAR 5th STREET is below this median.

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, calculated at 7%, would be Rs 1,54,000, while 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 more details on calculating fees, you can use the stamp duty and registration fee calculator.

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. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that the transaction is legally recognized and properly documented.

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 as per the 2024 revision, 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 2,200 per sq.ft in 2024. Notably, it increased by 49% from Rs 1,340 per sq.ft in 2017 to Rs 2,000 per sq.ft in 2023.

What is the land classification for BHARATHI NAGAR 5th STREET?

BHARATHI NAGAR 5th STREET is classified under Residential Class II Type - III. This classification indicates the type of residential development permitted in the area.

Where can I find the registration office for this area?

The Neelankarai Sub Registrar Office covers BHARATHI NAGAR 5th STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.