Guideline Value for Bharathiyar Nagar 17th Street

Bharathiyar Nagar 17th Street guideline value

The current guideline value of Bharathiyar Nagar 17th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village under the Neelankarai SRO, classified as Residential Class III Type - I.

How the guideline value of Bharathiyar Nagar 17th Street has changed

The guideline value of Bharathiyar Nagar 17th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and further rose to Rs 1,700 per sq.ft in 2024. Notably, the register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, the value increased by 49% from 2017 to 2023. The most recent change, from 2023 to 2024, reflects a rise of 13%. 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, with guideline values ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, placing Bharathiyar Nagar 17th Street's 2024 figure below this median.

• Bharathiyar Nagar 16th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 15th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 14th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 13th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 2nd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Nagar 17th 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 higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bharathiyar Nagar 17th Street?

The Sub Registrar Office that covers Bharathiyar Nagar 17th 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 further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar 17th Street?

The current guideline value of Bharathiyar Nagar 17th 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 increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024. The register has no figures for the years 2002, 2003, and 2007.

What is the land classification of Bharathiyar Nagar 17th Street?

Bharathiyar Nagar 17th Street is classified as Residential Class III Type - I. This classification indicates the type of residential development permissible in the area.

What are the stamp duty and registration fees for properties in Bharathiyar Nagar 17th Street?

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. The duty is charged on the higher of the guideline value or the sale price.

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. This office handles the registration of properties in Bharathiyar Nagar 17th Street.