Guideline Value for Bharathiyar Nagar 7th Street

Bharathiyar Nagar 7th Street guideline value

The current guideline value of Bharathiyar Nagar 7th 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 7th Street has changed

Over the years, the guideline value of Bharathiyar Nagar 7th Street has seen several revisions. 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 to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024, marking a 13% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 13%.

The register does not have figures for the years 2002, 2003, and 2007 for this street. In summary, the changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, there was an increase of 49%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Bharathiyar Nagar 7th Street is below this median.

• Bharathiyar Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 8th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 9th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 3rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Nagar 7th 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 guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiyar Nagar 7th Street?

Bharathiyar Nagar 7th Street falls under 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 property transactions in Neelankarai, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions comply with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value when engaging in property transactions, as it can significantly affect the overall costs involved. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar 7th Street?

The current guideline value of Bharathiyar Nagar 7th 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. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012.

What is the land classification for Bharathiyar Nagar 7th Street?

Bharathiyar Nagar 7th Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Bharathiyar Nagar 7th Street?

For a 1,000 sq.ft plot, the total guideline value is 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 7th 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.