Guideline Value for Bharathiyar Nagar 6th Street

Bharathiyar Nagar 6th Street guideline value

The current guideline value of Bharathiyar Nagar 6th 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 6th Street has changed

The guideline value for Bharathiyar Nagar 6th Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which 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 then to Rs 1,700 per sq.ft in 2024, reflecting a 13% rise from the previous year.

From 2017 to 2023, the increase was notable at 49%. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 13%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

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, making the current value of Bharathiyar Nagar 6th Street below the median.

• Bharathiyar Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 7th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 8th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 9th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Nagar 6th 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 to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Bharathiyar Nagar 6th Street?

The Sub Registrar Office that covers Bharathiyar Nagar 6th 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 crucial factor in the registration process for property transactions in Neelankarai. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value when negotiating sale prices, as the stamp duty is calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar 6th Street?

The current guideline value of Bharathiyar Nagar 6th 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 to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Bharathiyar Nagar 6th Street?

Bharathiyar Nagar 6th Street is classified as Residential Class III Type - I.

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 stamp duty calculated for properties in Bharathiyar Nagar 6th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000.