Guideline Value for Bharathiyar Nagar Selva Vinayagar Koil Street

Bharathiyar Nagar Selva Vinayagar Koil Street guideline value

The current guideline value of Bharathiyar Nagar Selva Vinayagar Koil 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 Selva Vinayagar Koil Street has changed

The guideline value for this 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. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, before reaching the current value of Rs 1,700 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, followed by a 13% increase from 2023 to 2024. Overall, from 2012 to 2024, the value has seen a net increase of 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 value for these streets is Rs 2,200 per sq.ft, indicating that Bharathiyar Nagar Selva Vinayagar Koil Street's 2024 figure is below this median.

• Bharathiyar Nagar (MGR Puram): Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar Frist Cross Street: Rs 1,700 per sq.ft (2024)
• Bharathiyar Nagar 9th 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 Selva Vinayagar Koil 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 higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bharathiyar Nagar Selva Vinayagar Koil Street?

The Bharathiyar Nagar Selva Vinayagar Koil 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 information.

How the guideline value is used when you buy or sell in Neelankarai

The guideline value is a critical factor in the registration process when buying or selling property in Neelankarai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair representation of the property's worth.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar Selva Vinayagar Koil Street?

The current guideline value of Bharathiyar Nagar Selva Vinayagar Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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 this street?

Bharathiyar Nagar Selva Vinayagar Koil Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property transactions here?

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.

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.