Guideline Value for BHARATHIYAR 2ND STREET

Bharathiyar 2nd Street guideline value

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

How the guideline value of Bharathiyar 2nd Street has changed

The guideline value for Bharathiyar 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2002, where it was Rs 305 per sq.ft. This increased to Rs 409 per sq.ft in 2003, marking a 34% rise. The value further increased to Rs 1,000 per sq.ft in 2007, which is a 144% increase. In 2012, the value remained at Rs 2,500 per sq.ft, showing no recorded change for this street. The 2017 revision saw a significant increase to Rs 1,675 per sq.ft, which is a 33% decrease from the previous figure. The guideline value then rose to Rs 2,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 has set the value at Rs 2,800 per sq.ft, which is a 12% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 818%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO, with the 2024 guideline values 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 Bharathiyar 2nd Street's 2024 figure below that median.

• Bharathiyar 3rd Street: Rs 2,800 per sq.ft (2024)
• Bharathiyar 1st Street: Rs 2,800 per sq.ft (2024)
• Bharathiyar 4th Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar Road (Street): Rs 2,800 per sq.ft (2024)
• Bharathiyar Street: Rs 2,800 per sq.ft (2024)
• Bharathi Nagar 2nd Main Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar 2nd Street

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, the total fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar 2nd Street?

The Sub Registrar Office that covers Bharathiyar 2nd 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 Palavakkam

The guideline value is a crucial factor in property transactions in Palavakkam. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the guideline value helps determine the minimum sale price for registration. This ensures that properties are registered at a value that reflects the official assessment by the government.

Frequently asked questions

What is the current guideline value of Bharathiyar 2nd Street?

The current guideline value of Bharathiyar 2nd Street 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 several times, from Rs 305 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, representing an overall increase of 818% over this period.

What is the land classification for Bharathiyar 2nd Street?

Bharathiyar 2nd Street is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Bharathiyar 2nd Street?

The Neelankarai Sub Registrar Office covers Bharathiyar 2nd 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 Bharathiyar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,52,000.