Guideline Value for Bharathiyar Nagar 15th Street

Bharathiyar Nagar 15th Street guideline value

The current guideline value for Bharathiyar Nagar 15th 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 15th Street has changed

The guideline value for Bharathiyar Nagar 15th Street has experienced several revisions over the years. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, an increase from Rs 1,500 per sq.ft in 2023, reflecting a change of +13%. Prior to that, in 2017, the value was Rs 1,005 per sq.ft, which means there was a significant increase of +49% from 2017 to 2023. The 2012 revision also recorded a value of Rs 1,500 per sq.ft, indicating a decrease of -33% from 2012 to 2017.

It is important to note that the register has no figures for Bharathiyar Nagar 15th Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by +13%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Bharathiyar Nagar 15th Street is below this median.

• Bharathiyar Nagar 14th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 16th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 13th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 17th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 12th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 11th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Nagar 15th 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. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiyar Nagar 15th Street?

The Sub Registrar Office that covers Bharathiyar Nagar 15th 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 plays a crucial role in the registration process of property transactions in Neelankarai. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is legally compliant and properly documented.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly influences the costs associated with property registration. Understanding this value helps in making informed decisions during real estate transactions.

Frequently asked questions

What is the current guideline value for Bharathiyar Nagar 15th Street?

The current guideline value for Bharathiyar Nagar 15th 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 2023 to Rs 1,700 per sq.ft in 2024, a change of +13%. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations for Bharathiyar Nagar 15th Street?

The Neelankarai Sub Registrar Office handles property registrations for Bharathiyar Nagar 15th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How many streets in Neelankarai have a guideline value?

There are 377 streets in Neelankarai under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,500 per sq.ft.