Guideline Value for B.M.S Nagar

B.M.S Nagar guideline value

The current guideline value of B.M.S Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Class I Type - I.

How the guideline value of B.M.S Nagar has changed

The guideline value for B.M.S Nagar has undergone several revisions over the years. Starting from Rs 144 per sq.ft in 2002, it increased to Rs 170 per sq.ft in 2003, marking an 18% rise. The value continued to climb significantly to Rs 400 per sq.ft in 2007, reflecting a 135% increase. In 2012, the value reached Rs 2,200 per sq.ft, which was a substantial jump of 450% from the previous revision. However, it saw a decrease to Rs 1,474 per sq.ft in 2017, a drop of 33%.

From 2017 to the current 2024 revision, the guideline value rose sharply to Rs 2,400 per sq.ft, representing a 63% increase. Overall, from 2002 to 2024, the guideline value has increased by an impressive 1567%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value is Rs 2,400 per sq.ft, which is equal to the current guideline value of B.M.S Nagar.

• Brindavan Avenue (Sri Nagar Colony): Rs 2,700 per sq.ft (2024)
• Bhavani Amman Street: Rs 1,100 per sq.ft (2024)
• Britania Nagar: Rs 2,400 per sq.ft (2024)
• Bharathiyar Street (Thendral Nager): Rs 2,400 per sq.ft (2024)
• Bharathiyar Street (Sri Sakthi Nagar): Rs 2,400 per sq.ft (2024)
• Bharathiyar Street (sri Nagar colony): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in B.M.S Nagar

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers B.M.S Nagar?

The Sub Registrar Office that covers B.M.S Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thirumullaivoyal. It is used to determine the stamp duty and registration fees payable when buying or selling property. Buyers and sellers must refer to the guideline value to understand the financial implications of their transactions.

When registering a property, the guideline value is compared to the sale price to ensure that the appropriate fees are calculated based on the higher amount. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of B.M.S Nagar?

The current guideline value of B.M.S Nagar is Rs 2,400 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 144 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 1567% over the years.

What are the stamp duty rates for property in B.M.S Nagar?

The stamp duty for property in B.M.S Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Which Sub Registrar Office is responsible for B.M.S Nagar?

The Ambattur Sub Registrar Office is responsible for B.M.S Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the median guideline value in Thirumullaivoyal?

The median guideline value in Thirumullaivoyal is Rs 2,400 per sq.ft, which is the same as the current guideline value for B.M.S Nagar.