Guideline Value for Bharathiyar Nagar 9th Street

Bharathiyar Nagar 9th Street guideline value

The current guideline value of Bharathiyar Nagar 9th 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 9th Street has changed

The guideline value for Bharathiyar Nagar 9th Street has undergone several revisions over the years. 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 the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 1,500 per sq.ft in the 2023 revision, and further increased to Rs 1,700 per sq.ft in the 2024 revision, reflecting a 13% rise.

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, placing Bharathiyar Nagar 9th Street's 2024 figure below that median.

• Bharathiyar Nagar 8th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 7th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 6th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar Frist Cross 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)

Stamp duty and registration fee for property in Bharathiyar Nagar 9th 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 amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Nagar 9th Street?

The Sub Registrar Office that covers Bharathiyar Nagar 9th 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 plays a crucial role in the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar 9th Street?

The current guideline value of Bharathiyar Nagar 9th 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 of Bharathiyar Nagar 9th Street?

Bharathiyar Nagar 9th Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Bharathiyar Nagar 9th Street?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,53,000.

Which office handles registrations for Bharathiyar Nagar 9th Street?

The Neelankarai Sub Registrar Office handles registrations for Bharathiyar Nagar 9th Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.