Guideline Value for BHARATHI NAGAR - Murugan Kovil Street

BHARATHI NAGAR - Murugan Kovil Street guideline value

The current guideline value of BHARATHI NAGAR - Murugan Kovil Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village and falls under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of BHARATHI NAGAR - Murugan Kovil Street has changed

The guideline value for BHARATHI NAGAR - Murugan Kovil Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 3,000 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Nesapakkam

Nesapakkam has a range of guideline values across its 148 streets under the Virugambakkam SRO, with values varying from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the current value for BHARATHI NAGAR - Murugan Kovil Street.

• BHARATHI NAGAR - MGR Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Murugan Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - N.S.C. Bose Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Periyar Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR Main Road: Rs 3,850 per sq.ft (2024)
• BHARATHI NAGAR - Quaide millath Annexe: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in BHARATHI NAGAR - Murugan Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers BHARATHI NAGAR - Murugan Kovil Street?

The BHARATHI NAGAR - Murugan Kovil Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nesapakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of BHARATHI NAGAR - Murugan Kovil Street?

The current guideline value of BHARATHI NAGAR - Murugan Kovil Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing a 49% increase from 2017 to 2023.

What is the land classification for this street?

BHARATHI NAGAR - Murugan Kovil Street is classified as Residential Class II Type - I. This classification indicates the type of development permitted in this area.

Where can I find the registration office for this street?

The registration office covering BHARATHI NAGAR - Murugan Kovil Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 3,300 per sq.ft would incur a total stamp duty of Rs 2,31,000.