Guideline Value for Bharathiyar Street (Vaidyalingam Street)

Bharathiyar Street (Vaidyalingam Street) guideline value

The current guideline value of Bharathiyar Street (Vaidyalingam 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 falls under the Residential Class III Type - I land classification.

How the guideline value of Bharathiyar Street (Vaidyalingam Street) has changed

The guideline value for Bharathiyar Street has undergone several revisions over the years. In 2002, the guideline value was Rs 93 per sq.ft, which increased to Rs 161 per sq.ft in 2003, marking a 73% rise. The value further increased to Rs 250 per sq.ft in 2007, a significant jump of 55%. By 2012, the value rose to Rs 1,500 per sq.ft, reflecting a substantial increase of 500%. However, in 2017, it decreased to Rs 1,005 per sq.ft, a drop of 33%. The value then increased again to Rs 1,500 per sq.ft in 2023, before reaching the current figure of Rs 1,700 per sq.ft in 2024, which is a 13% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1728%. There are no years in the register with no figure for this street.

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, indicating that Bharathiyar Street's 2024 figure is below this median.

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

Stamp duty and registration fee for property in Bharathiyar Street (Vaidyalingam 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, bringing the total cost for stamp duty and registration fees 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.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Street (Vaidyalingam Street)?

The Sub Registrar Office that covers Bharathiyar Street (Vaidyalingam Street) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in property transactions in Neelankarai. It serves as a reference point for calculating stamp duty and registration fees when buying or selling property. The guideline value ensures that the property is registered at a value that reflects its worth in the market.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This system helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Bharathiyar Street (Vaidyalingam Street)?

The current guideline value of Bharathiyar Street (Vaidyalingam Street) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 93 per sq.ft to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1728%.

What is the land classification for Bharathiyar Street (Vaidyalingam Street)?

Bharathiyar Street (Vaidyalingam Street) is classified as Residential Class III Type - I.

Where can I find the Neelankarai Sub Registrar Office?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total cost for stamp duty and registration fees would be Rs 1,53,000.