Guideline Value for Bharathiyar Nagar Frist Cross Street

Bharathiyar Nagar Frist Cross Street guideline value

The current guideline value of Bharathiyar Nagar Frist Cross 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 Frist Cross Street has changed

Over the years, the guideline value for Bharathiyar Nagar Frist Cross Street has seen significant changes. In the 2002 revision, the value was Rs 93 per sq.ft, which increased to Rs 102 per sq.ft in 2003. The value rose to Rs 250 per sq.ft in 2007, followed by a substantial increase to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in the 2017 revision. The value then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in the 2024 revision. There are no figures for this street in the revisions for the years not listed.

The changes between revisions show an overall increase of 1,728% from 2002 to 2024. Notably, the guideline value jumped by 500% from 2007 to 2012, and then saw a decrease of 33% from 2012 to 2017. The most recent change from 2023 to 2024 reflects a 13% increase.

Guideline values in Neelankarai

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

• Bharathiyar Nagar (MGR Puram): Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 9th Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar Selva Vinayagar Koil Street: Rs 1,700 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Bharathiyar Nagar Frist Cross 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, making the total cost for these fees 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathiyar Nagar Frist Cross Street?

The Sub Registrar Office that covers Bharathiyar Nagar Frist Cross 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 of property transactions in Neelankarai. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is officially recorded and that the necessary taxes are collected by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall costs involved in a property transaction. 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 Frist Cross Street?

The current guideline value of Bharathiyar Nagar Frist Cross 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 significantly from Rs 93 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1,728% over this period.

What is the classification of land in Bharathiyar Nagar Frist Cross Street?

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

What are the stamp duty and registration fees for property in this area?

For a property valued at 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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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