Guideline Value for Bharathiyar Nagar 1st Street

Bharathiyar Nagar 1st Street guideline value

The current guideline value of Bharathiyar Nagar 1st 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 1st Street has changed

The guideline value for Bharathiyar Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced 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 the 2024 revision.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. The latest change from 2023 to 2024 reflects a rise of 13%. Overall, comparing the values from 2012 to 2024, there has been an increase of 13%.

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 guideline value for these streets is Rs 2,200 per sq.ft, placing Bharathiyar Nagar 1st Street's 2024 figure below this median.

• Bharathiyar Nagar 17th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 16th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 15th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 14th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Nagar 1st 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Nagar 1st Street?

The Sub Registrar Office that covers Bharathiyar Nagar 1st 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 when registering property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which properties can be sold and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the stamp duty. This ensures that the government receives appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar 1st Street?

The current guideline value of Bharathiyar Nagar 1st 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.

What is the median guideline value in Neelankarai?

The median guideline value for streets in Neelankarai is Rs 2,200 per sq.ft, and Bharathiyar Nagar 1st Street's 2024 figure is below this median.

What are the stamp duty and registration fees for properties in Bharathiyar Nagar 1st 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.

Where is the Sub Registrar Office for Bharathiyar Nagar 1st 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.