Guideline Value for Bharathiyar Nagar 10th Street

Bharathiyar Nagar 10th Street guideline value

The current guideline value of Bharathiyar Nagar 10th 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 Bharathiyar Nagar 10th Street has changed

The guideline value for Bharathiyar Nagar 10th Street has seen several revisions over the years. In 2012, the value was Rs 1,500 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft. The value then increased significantly to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 raised the value to Rs 1,700 per sq.ft, marking a 13% increase from the previous year.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 13%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value is Rs 2,200 per sq.ft, making the guideline value of Bharathiyar Nagar 10th Street below this median.

• 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)
• Bharathiyar Nagar 14th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 15th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 16th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Nagar 10th Street

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

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

Which Sub Registrar Office covers Bharathiyar Nagar 10th Street?

The Sub Registrar Office that covers Bharathiyar Nagar 10th 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 details.

How the guideline value is used when you buy or sell in Neelankarai

The guideline value is a critical factor when registering property in Neelankarai. It determines the amount of stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to calculate the applicable duties and fees, which are essential for the legal transfer of property ownership. This ensures that both parties are aware of their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar 10th Street?

The current guideline value of Bharathiyar Nagar 10th 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 from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Bharathiyar Nagar 10th Street?

Bharathiyar Nagar 10th Street is classified as Residential Class III Type - I.

Where can I find the Neelankarai Sub Registrar Office?

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

How is the stamp duty calculated for properties in Bharathiyar Nagar 10th 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 rate, the total stamp duty and registration fees would amount to Rs 1,53,000.