Guideline Value for Bharathiyar Nagar 4th Street

Bharathiyar Nagar 4th Street guideline value

The current guideline value of Bharathiyar Nagar 4th 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 4th Street has changed

The guideline value for Bharathiyar Nagar 4th Street has undergone several revisions over the years. The earliest available figure is from 2012, where the guideline value was Rs 1,500 per sq.ft. In 2017, it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, in 2023, the value increased significantly to Rs 1,500 per sq.ft, and then further rose to Rs 1,700 per sq.ft in the 2024 revision, reflecting a 13% increase from the previous year.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 13%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai village, 377 streets are registered 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 indicates that the 2024 guideline value for Bharathiyar Nagar 4th Street is below this median.

• Bharathiyar Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 7th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 8th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Nagar 4th 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 cost together 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 more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Nagar 4th Street?

The Bharathiyar Nagar 4th Street is covered by 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 details.

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

The guideline value is an essential 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 the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is compared with the sale price. The higher value between the two is used to calculate the stamp duty, ensuring compliance with local regulations and proper valuation of the property.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar 4th Street?

The current guideline value of Bharathiyar Nagar 4th 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 1,700 per sq.ft in 2024, with various revisions in between, including a decrease in 2017 and increases in 2023 and 2024.

What is the land classification for Bharathiyar Nagar 4th Street?

Bharathiyar Nagar 4th Street is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the Neelankarai Sub Registrar Office?

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

How is the stamp duty calculated for properties in Bharathiyar Nagar 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,19,000.