Guideline Value for Bharathiyar Nagar 2nd Street

Bharathiyar Nagar 2nd Street guideline value

The current guideline value of Bharathiyar Nagar 2nd 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 2nd Street has changed

The guideline value for Bharathiyar Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the previous figure of Rs 1,005 per sq.ft in 2017. In the subsequent revision in 2023, the value increased to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,700 per sq.ft, marking a 13% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. 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 in this area is Rs 2,200 per sq.ft, which means Bharathiyar Nagar 2nd Street's 2024 figure is below that median.

• Bharathiyar Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 17th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 5th 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 2nd 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 fees 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 2nd Street?

The Sub Registrar Office that covers Bharathiyar Nagar 2nd Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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 minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must be aware of the guideline value as it impacts the overall transaction costs. It is advisable to consult the latest guideline value to understand the financial implications of the property transaction.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar 2nd Street?

The current guideline value of Bharathiyar Nagar 2nd 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, an increase of 13%. It was Rs 1,005 per sq.ft in 2017, which reflects a 49% increase to the 2023 figure.

What is the land classification for Bharathiyar Nagar 2nd Street?

Bharathiyar Nagar 2nd Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for properties here?

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 located for this street?

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