Guideline Value for Bharathidasan Street (Vaidyalingam Street)

Bharathidasan Street (Vaidyalingam Street) guideline value

The current guideline value of Bharathidasan Street (Vaidyalingam Street) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bharathidasan Street (Vaidyalingam Street) has changed

The guideline value for Bharathidasan Street (Vaidyalingam Street) has undergone several revisions over the years. In 2002, the guideline value was Rs 93 per sq.ft. This increased to Rs 161 per sq.ft in 2003, and then saw a significant rise to Rs 250 per sq.ft in 2007. Following this, the value jumped to Rs 1,500 per sq.ft in 2012, before decreasing to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,700 per sq.ft as of the 2024 revision.

Between the revisions, the changes are notable. From 2002 to 2003, the increase was +73%, followed by +55% from 2003 to 2007. A significant rise of +500% occurred from 2007 to 2012. However, there was a decrease of -33% from 2012 to 2017. The value then increased by +49% from 2017 to 2023, and finally, there was a +13% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +1728%.

Guideline values in Neelankarai

In Neelankarai village, there are 377 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, which means Bharathidasan Street's 2024 figure of Rs 1,700 per sq.ft is below the median.

• Bharathi Nagar: Rs 1,700 per sq.ft (2024)
• Bharathi Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 10th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 11th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 12th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 13th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan Street (Vaidyalingam Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bharathidasan Street (Vaidyalingam Street)?

The Sub Registrar Office that covers Bharathidasan Street (Vaidyalingam 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 Neelankarai

The guideline value is an essential factor in the registration process when buying or selling property in Neelankarai. It serves as a benchmark to determine the minimum value of the property for registration purposes, ensuring that all transactions are recorded accurately.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Bharathidasan Street (Vaidyalingam Street)?

The current guideline value of Bharathidasan Street (Vaidyalingam Street) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 93 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, marking an overall increase of +1728%.

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai is Rs 2,200 per sq.ft, which is higher than the current guideline value of Bharathidasan Street.

What are the stamp duty and registration fees for property in Bharathidasan Street?

For a 1,000 sq.ft plot, the total stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000 based on the current guideline value.

Where is the Sub Registrar Office for Bharathidasan Street located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.