Guideline Value for Bharathiyar Nagar 8th Street

Bharathiyar Nagar 8th Street guideline value

The current guideline value of Bharathiyar Nagar 8th 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 8th Street has changed

The guideline value for Bharathiyar Nagar 8th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft. The value increased significantly to Rs 1,500 per sq.ft in the 2023 revision and further rose to Rs 1,700 per sq.ft in the 2024 revision, marking a 13% increase from the previous year.

Between the 2017 and 2023 revisions, there was a substantial increase of 49%. However, the transition from 2012 to 2017 witnessed a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 13%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that have 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 8th Street is below this median.

• Bharathiyar Nagar 7th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 9th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 5th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar Frist Cross Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Nagar 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be 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 for these 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Nagar 8th Street?

Bharathiyar Nagar 8th Street falls under the jurisdiction of 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 a crucial factor in property transactions in Neelankarai. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

During the registration process, the buyer and seller must consider the guideline value to ensure compliance with legal requirements. This value helps in establishing transparency in property transactions, as it reflects the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar 8th Street?

The current guideline value of Bharathiyar Nagar 8th 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 are the stamp duty and registration fees for properties in Bharathiyar Nagar 8th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 17,00,000. The stamp duty is Rs 1,19,000, and the registration fee is Rs 34,000, totaling Rs 1,53,000.

Which Sub Registrar Office covers Bharathiyar Nagar 8th Street?

The Neelankarai Sub Registrar Office covers Bharathiyar Nagar 8th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Bharathiyar Nagar 8th Street?

Bharathiyar Nagar 8th Street is classified as Residential Class III Type - I, indicating its designated use for residential purposes.