Guideline Value for BURKIT ROAD

Burkit Road guideline value

The current guideline value of Burkit Road is Rs 17,600 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - III.

How the guideline value of Burkit Road has changed

The guideline value for Burkit Road has seen significant changes over the years. In the 2002 revision, the rate was Rs 1,943 per sq.ft. This increased to Rs 3,200 per sq.ft in 2003, marking a 65% rise. The value continued to rise to Rs 4,000 per sq.ft in 2007, a 25% increase. The 2012 revision saw a decrease to Rs 16,000 per sq.ft, a drop of 300%. However, this was followed by a substantial increase to Rs 10,720 per sq.ft in 2017, which was a 49% rise. The value further increased to Rs 16,000 per sq.ft in 2023, and finally, it stands at Rs 17,600 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 806%. There are no figures available for any other revisions for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value in this area is Rs 11,000 per sq.ft, making Burkit Road's current value above this median.

• Canal Bank Road: Rs 8,800 per sq.ft (2024)
• Cart Track Street: Rs 8,300 per sq.ft (2024)
• Boag Road: Rs 17,600 per sq.ft (2024)
• B.N.REDDY ROAD 3rd STREET: Rs 9,400 per sq.ft (2024)
• B.N.REDDY ROAD 3rd LANE: Rs 5,500 per sq.ft (2024)
• B.N.REDDY ROAD 2nd STREET: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Burkit Road

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value would be Rs 1,76,00,000. The stamp duty at 7% would amount to Rs 12,32,000, while the registration fee at 2% would be Rs 3,52,000. Together, the total cost for stamp duty and registration would be Rs 15,84,000. 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 Burkit Road?

The Sub Registrar Office covering Burkit Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Burkit Road?

The current guideline value of Burkit Road is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,943 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, marking an overall increase of 806% over this period.

What is the land classification for Burkit Road?

Burkit Road is classified as Commercial Special Type - III, which affects its guideline value and potential uses.

Where can I find the Thiyagaraya nagar Sub Registrar Office?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. It is typically charged at a rate of 7%, along with a registration fee of 2%.