Guideline Value for BHARATHIYAR NAGAR

Bharathiyar Nagar guideline value

The current guideline value of Bharathiyar Nagar, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Bharathiyar Nagar has changed

The guideline value for Bharathiyar Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and further rose 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, from 2012 to 2024, the guideline value has increased by 10%. 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 the 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which matches the current value for Bharathiyar Nagar.

• Bharathiyar Nagar Extension: Rs 3,300 per sq.ft (2024)
• BHARATHIYAR NAGAR & STREET & Extension: 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

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 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.

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

Which Sub Registrar Office covers Bharathiyar Nagar?

The Sub Registrar Office that covers Bharathiyar Nagar 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

When buying or selling property in Okkiyamthuraipakkam, the guideline value is a crucial factor used during the registration process. It serves as a reference point for calculating the applicable stamp duty and registration fees, ensuring that both parties are aware of the costs involved in the transaction.

It is essential for buyers and sellers to be informed about the guideline value as it can affect the overall expenses incurred during the property transaction. This value is regularly updated and reflects the current market conditions in the area.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar?

The current guideline value of Bharathiyar Nagar 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 2023 to Rs 3,300 per sq.ft in 2024, a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing various fluctuations over the years.

What is the land classification for Bharathiyar Nagar?

Bharathiyar Nagar is classified as Residential Class II Type - I. This classification indicates the type of development permissible in the area.

What is the stamp duty rate for property in Bharathiyar Nagar?

The stamp duty rate for property transactions in Bharathiyar Nagar is 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.