Guideline Value for Bharathiyar Nagar 12th Street

Bharathiyar Nagar 12th Street guideline value

The current guideline value of Bharathiyar Nagar 12th 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 falls under the Residential Class III Type - I land classification.

How the guideline value of Bharathiyar Nagar 12th Street has changed

The guideline value for Bharathiyar Nagar 12th Street has seen several revisions over the years. The 2012 revision recorded a guideline value of Rs 1,500 per sq.ft, which was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 1,500 per sq.ft, and the latest revision in 2024 set it at Rs 1,700 per sq.ft. The register has no figure for this street in the years 2002, 2003, and 2007.

Between the revisions, there were notable changes. From 2012 to 2017, the guideline value decreased by 33%. However, there was a significant increase of 49% from 2017 to 2023. The value increased by 13% from 2023 to 2024, resulting in an overall increase of 13% from 2012 to 2024.

Guideline values in Neelankarai

In Neelankarai, 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, placing Bharathiyar Nagar 12th Street's 2024 figure below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to 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 to Rs 1,53,000. Please 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 further calculations.

Which Sub Registrar Office covers Bharathiyar Nagar 12th Street?

The Sub Registrar Office that covers Bharathiyar Nagar 12th 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 a critical factor during the registration of property transactions in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that are payable when buying or selling property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the correct amount of revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar 12th Street?

The current guideline value of Bharathiyar Nagar 12th Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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 up 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 for Bharathiyar Nagar 12th Street?

Bharathiyar Nagar 12th Street is classified as Residential Class III Type - I.

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 Bharathiyar Nagar 12th Street.

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.