Guideline Value for MAHA KAVI BHARATHI NAGAR 2ND STREET

Maha Kavi Bharathi Nagar 2nd Street guideline value

The current guideline value of Maha Kavi Bharathi Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Seevaram village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

How the guideline value of Maha Kavi Bharathi Nagar 2nd Street has changed

The guideline value for Maha Kavi Bharathi Nagar 2nd Street has undergone several revisions over the years. Starting from Rs 178 per sq.ft in 2002, it increased to Rs 200 per sq.ft in 2003, marking a 12% rise. The value then saw a significant increase to Rs 600 per sq.ft in 2007, which was a 200% jump. In 2012, the value was recorded at Rs 2,000 per sq.ft, indicating a 233% increase from the previous revision. However, this value dropped to Rs 1,340 per sq.ft in 2017, reflecting a decrease of 33%.

From 2017 to 2023, the value rose sharply to Rs 2,000 per sq.ft, a notable increase of 49%. The latest revision in 2024 set the guideline value at Rs 2,200 per sq.ft, which is a 10% increase from the previous year. There are no figures available for any other revisions for this street.

Guideline values in Seevaram

In Seevaram, there are 84 streets under the Neelankarai SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,300 per sq.ft. The median value for these streets is Rs 2,800 per sq.ft, placing Maha Kavi Bharathi Nagar 2nd Street's 2024 figure below this median.

• Maha Kavi Bharathi Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• L.R.D.Avenue: Rs 2,200 per sq.ft (2024)
• Manikodi Srinivasan Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Manikodi Srinivasan Nagar 4th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Maha Kavi Bharathi Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Maha Kavi Bharathi Nagar 2nd Street?

The Maha Kavi Bharathi Nagar 2nd Street falls under 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 Seevaram

The guideline value is a crucial factor when buying or selling property in Seevaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

At the time of registration, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the established legal framework.

Frequently asked questions

What is the current guideline value of Maha Kavi Bharathi Nagar 2nd Street?

The current guideline value of Maha Kavi Bharathi Nagar 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 178 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1136% over the years.

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

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Which office handles property registrations for Maha Kavi Bharathi Nagar 2nd Street?

The Neelankarai Sub Registrar Office is responsible for property registrations in Maha Kavi Bharathi Nagar 2nd Street.

Where can I find more information about the guideline values in Seevaram?

For more information about the guideline values in Seevaram, you can refer to the Registration Department's guideline value register (TNReginet).