Guideline Value for Bharathi Nagar /MGR Salai

Bharathi Nagar /MGR Salai guideline value

The current guideline value of Bharathi Nagar /MGR Salai is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Bharathi Nagar /MGR Salai has changed

The guideline value for Bharathi Nagar /MGR Salai has seen significant changes over the years. In 2002, the guideline value was Rs 278 per sq.ft. This increased to Rs 315 per sq.ft in 2003, marking a 13% rise. By 2007, the value further increased to Rs 360 per sq.ft, reflecting a 14% change. The 2017 revision saw a substantial jump to Rs 1,206 per sq.ft, which is a 235% increase from 2007. In 2023, the guideline value was Rs 1,800 per sq.ft, representing a 49% increase from 2017. Finally, the current value of Rs 1,980 per sq.ft, effective from 2024, shows a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2012 in the register for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, indicating that the guideline value for Bharathi Nagar /MGR Salai is below this median.

• Bharathidasan Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Bharathiyar Street: Rs 1,980 per sq.ft (2024)
• Bharathidasan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Bharathidasan 2nd Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Bharathiyar Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Bharathidasan 1st Street / VOC Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar /MGR Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. 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 accurate calculations.

Which Sub Registrar Office covers Bharathi Nagar /MGR Salai?

The Bharathi Nagar /MGR Salai area is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering a property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees.

When a buyer or seller engages in a property transaction, the guideline value ensures that the government receives the appropriate revenue from the sale. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Bharathi Nagar /MGR Salai?

The current guideline value of Bharathi Nagar /MGR Salai is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 278 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, showing an overall increase of 612%.

What is the stamp duty rate for properties in Bharathi Nagar /MGR Salai?

The stamp duty rate for properties in Bharathi Nagar /MGR Salai is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Bharathi Nagar /MGR Salai?

The Sub Registrar Office for Bharathi Nagar /MGR Salai is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, which is above the current guideline value of Bharathi Nagar /MGR Salai.