Guideline Value for BHARATHI NAGAR - Thirumurugan Street

BHARATHI NAGAR - Thirumurugan Street guideline value

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

How the guideline value of BHARATHI NAGAR - Thirumurugan Street has changed

The guideline value for BHARATHI NAGAR - Thirumurugan Street has seen several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 500% rise. However, the value decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The subsequent revision in 2023 brought the value back up to Rs 3,000 per sq.ft, followed by a further increase to Rs 3,300 per sq.ft in 2024, reflecting a 10% rise.

In summary, the guideline value has increased from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, an overall increase of 560%. There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Nesapakkam

In Nesapakkam, there are 148 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,150 per sq.ft, with the median being Rs 3,300 per sq.ft. BHARATHI NAGAR - Thirumurugan Street's 2024 figure aligns with this median.

• BHARATHI NAGAR - Vinayagar Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - V.N. Janaki Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Ramadass Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Ramadass 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Ramadass 1st Cross Street: Rs 3,300 per sq.ft (2024)
• BHARATHI NAGAR - Rajaji Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in BHARATHI NAGAR - Thirumurugan 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers BHARATHI NAGAR - Thirumurugan Street?

The Sub Registrar Office that covers BHARATHI NAGAR - Thirumurugan Street is 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 an essential factor when buying or selling property in Nesapakkam, as it determines the minimum value at which the property can be registered. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value.

When you approach the registration office, the guideline value will be used to assess the applicable fees based on the size of the property. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for BHARATHI NAGAR - Thirumurugan Street?

The current guideline value for BHARATHI NAGAR - Thirumurugan 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 increased from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with several revisions in between, including a decrease in 2017.

What is the registration office for BHARATHI NAGAR - Thirumurugan Street?

The registration office for BHARATHI NAGAR - Thirumurugan 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. For example, for a property valued at Rs 33,00,000, the stamp duty would be 7% of that amount.

Are there other streets in Nesapakkam with the same guideline value?

Yes, there are several other streets in Nesapakkam with the same guideline value of Rs 3,300 per sq.ft for the year 2024, including BHARATHI NAGAR - Vinayagar Street and BHARATHI NAGAR - Ramadass Street.