Guideline Value for BHARATHIYAR STREET (NETHAJI SALAI)

Bharathiyar Street (Nethaji Salai) guideline value

The current guideline value of Bharathiyar Street (Nethaji Salai) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Bharathiyar Street (Nethaji Salai) has changed

The guideline value for Bharathiyar Street (Nethaji Salai) has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in 2017. The value then increased significantly to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a substantial increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase, bringing the overall change from 2012 to 2024 to a rise of 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are a total of 453 streets under the Neelankarai SRO, which have a 2024 guideline value 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 is equal to the current guideline value of Bharathiyar Street (Nethaji Salai).

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

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, charged 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Street (Nethaji Salai)?

The Sub Registrar Office that covers Bharathiyar Street (Nethaji Salai) 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 plays a crucial role in property transactions in Okkiyamthuraipakkam. When buying or selling a property, the guideline value is used to determine the applicable stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to ensure accurate financial planning during the transaction process.

Additionally, the guideline value is a reference point for the government to assess property taxes and other related charges. Understanding the guideline value helps in navigating the legal and financial aspects of property transactions in the area.

Frequently asked questions

What is the current guideline value of Bharathiyar Street (Nethaji Salai)?

The current guideline value of Bharathiyar Street (Nethaji Salai) 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 of Bharathiyar Street (Nethaji Salai)?

The land classification for Bharathiyar Street (Nethaji Salai) is Residential Class II Type - I.

What are the stamp duty and registration fees for property in Bharathiyar Street (Nethaji Salai)?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For a 1,000 sq.ft plot, the total costs would amount to Rs 2,97,000.

Where is the Sub Registrar Office for Bharathiyar Street (Nethaji Salai)?

The Neelankarai Sub Registrar Office covers Bharathiyar Street (Nethaji Salai) and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.