Guideline Value for BHARATHIYAR NAGAR & STREET & Extension

BHARATHIYAR NAGAR & STREET & Extension guideline value

The current guideline value for BHARATHIYAR NAGAR & STREET & Extension is Rs 3,300 per sq.ft. This value is effective from 1 July 2024 and falls under the Neelankarai SRO in Okkiyamthuraipakkam village. The land classification for this area is Residential Class II Type - I.

How the guideline value of BHARATHIYAR NAGAR & STREET & Extension has changed

The guideline value for this street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, the guideline value has increased by 10% from the 2012 figure to the current 2024 figure. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which aligns with the current value for BHARATHIYAR NAGAR & STREET & Extension.

• Bharathiyar Nagar Extension: Rs 3,300 per sq.ft (2024)
• Bharathiyar Nagar: Rs 3,300 per sq.ft (2024)
• Bharathiyar Street (Nethaji Salai): Rs 3,300 per sq.ft (2024)
• Bharathi Nagar Main Road: Rs 4,400 per sq.ft (2024)
• BHARATHI NAGAR 6th STREET: Rs 2,200 per sq.ft (2024)
• BHARATHI NAGAR 5th STREET: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in BHARATHIYAR NAGAR & STREET & Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 more detailed calculations.

Which Sub Registrar Office covers BHARATHIYAR NAGAR & STREET & Extension?

The Sub Registrar Office that covers BHARATHIYAR NAGAR & STREET & Extension 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, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for completing the transaction. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for BHARATHIYAR NAGAR & STREET & Extension?

The current guideline value for BHARATHIYAR NAGAR & STREET & Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for this area?

The land classification for BHARATHIYAR NAGAR & STREET & Extension is Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Neelankarai Sub Registrar Office covers this area and is 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 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.