Guideline Value for BURMA NAGAR

Burma Nagar guideline value

The current guideline value of Burma Nagar in Chinnakavanam village, under the Ponneri SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Burma Nagar has changed

The guideline value for Burma Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which decreased to Rs 134 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 124% to Rs 300 per sq.ft. The current 2024 revision maintains this value, showing no change 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 50%.

Guideline values in Chinnakavanam

In Chinnakavanam, there are 28 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 400 per sq.ft, with a median value of Rs 300 per sq.ft. Burma Nagar's 2024 figure aligns with this median.

• Anna Nagar: Rs 300 per sq.ft (2024)
• G.L.S. Nagar: Rs 300 per sq.ft (2024)
• Andimuthan Street: Rs 300 per sq.ft (2024)
• Ambedkar Street: Rs 300 per sq.ft (2024)
• Achisolai Street: Rs 300 per sq.ft (2024)
• Jayamani Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Burma Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. It is essential 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 Burma Nagar?

The Sub Registrar Office that covers Burma Nagar is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chinnakavanam. It serves as a reference point for determining the minimum value on which stamp duty and registration fees are calculated.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the government’s assessment of property values in the area. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Burma Nagar?

The current guideline value of Burma Nagar is Rs 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 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, and then increased to Rs 300 per sq.ft in 2023 and 2024.

What is the land classification of Burma Nagar?

Burma Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Burma Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 3,00,000, the stamp duty at 7% would be Rs 21,000.