Guideline Value for BURMA NAGAR

Burma Nagar guideline value

The current guideline value for Burma Nagar, located in Sadayankuppam village under the Thiruvottiyur SRO, is Rs 1,001 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - III.

How the guideline value of Burma Nagar has changed

The guideline value for Burma Nagar has undergone several revisions over the years. In 2002, the value was Rs 27 per sq.ft. This increased to Rs 34 per sq.ft in 2003, marking a change of +26%. The value continued to rise, reaching Rs 50 per sq.ft in 2007, which was a significant increase of +47%. The next revision in 2012 saw the value at Rs 350 per sq.ft, reflecting a substantial rise of +600%. However, in 2017, the value dropped to Rs 234 per sq.ft, a decrease of -33%. The value then saw a major increase, reaching Rs 1,000 per sq.ft in 2023, and finally, it is now Rs 1,001 per sq.ft as of the 2024 revision, showing no change from the previous year.

Throughout these revisions, the guideline value has increased significantly from Rs 27 per sq.ft in 2002 to Rs 1,001 per sq.ft in 2024, which is an overall increase of +3607%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Sadayankuppam

In Sadayankuppam, there are 20 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,200 per sq.ft, with a median of Rs 1,002 per sq.ft. The guideline value for Burma Nagar is below this median.

• Dr. M.G.R. Nagar: Rs 1,100 per sq.ft (2024)
• Duvaraga Nagar: Rs 1,100 per sq.ft (2024)
• Gandhi Nagar: Rs 1,000 per sq.ft (2024)
• Jeinfer Nagar: Rs 1,100 per sq.ft (2024)
• K.G.L. Nagar: Rs 1,002 per sq.ft (2024)
• Mallika Nagar: Rs 1,000 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 1,001 per sq.ft, the total guideline value would be Rs 10,01,000. The stamp duty at 7% would amount to Rs 70,070, and the registration fee at 2% would be Rs 20,020, resulting in a total of Rs 90,090. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Sadayankuppam. It is the basis for calculating the stamp duty and registration fees, which are mandatory during the property registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements.

When a property is sold, the transaction must be registered at the local Sub Registrar Office, where the guideline value is referenced. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value for Burma Nagar?

The current guideline value for Burma Nagar is Rs 1,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 27 per sq.ft in 2002 to Rs 1,001 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for Burma Nagar?

The land classification for Burma Nagar is Residential Class I Type - III, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Burma Nagar?

For a property valued at Rs 10,01,000, the stamp duty would be Rs 70,070 and the registration fee would be Rs 20,020, totaling Rs 90,090.

Where is the Sub Registrar Office for Burma Nagar located?

The Sub Registrar Office for Burma Nagar is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.