Guideline Value for BHARATHI NAGAR ANNEXE 1ST STREET

Bharathi Nagar Annexe 1st Street guideline value

The current guideline value of Bharathi Nagar Annexe 1st 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. The land classification for this area is Residential Class II Type - III.

How the guideline value of Bharathi Nagar Annexe 1st Street has changed

Looking at the historical revisions, the guideline value register shows that there are no figures for Bharathi Nagar Annexe 1st Street for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision, which is the 2024 revision, sets the guideline value at Rs 2,200 per sq.ft.

Since there are no recorded figures for the previous years, it is clear that the guideline value for this street has only been established in the latest revision effective from July 2024. The 2024 figure of Rs 2,200 per sq.ft aligns with the median guideline value for the area.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are a total of 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 for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Bharathi Nagar Annexe 1st Street.

• Bharathi Nagar Annexe: 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)
• Bharathi Nagar Annexe 4th Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Bharathi Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar Annexe 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be 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 information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Nagar Annexe 1st Street?

The Sub Registrar Office that covers Bharathi Nagar Annexe 1st 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 details.

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

The guideline value plays a crucial role during the registration process of property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that must be paid when a property is sold or purchased. Buyers and sellers should be aware that the guideline value is a key factor in calculating these costs.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to compute the applicable fees. This ensures that the fees reflect the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Bharathi Nagar Annexe 1st Street?

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

What is the land classification for Bharathi Nagar Annexe 1st Street?

The land classification for Bharathi Nagar Annexe 1st Street is Residential Class II Type - III.

Are there any previous guideline values for this street?

The guideline value register shows that there are no figures for Bharathi Nagar Annexe 1st Street for the years 2002, 2003, 2007, 2012, 2017, and 2023.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Bharathi Nagar Annexe 1st Street is charged at 7% of the guideline value or sale price, whichever is higher.

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.