Guideline Value for Bharathi Nagar M.G.R Street

Bharathi Nagar M.G.R Street guideline value

The current guideline value of Bharathi Nagar M.G.R Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village, under the Pammal SRO, classified as Commercial Class I Type - I.

How the guideline value of Bharathi Nagar M.G.R Street has changed

The guideline value for Bharathi Nagar M.G.R Street has seen several revisions over the years. The oldest recorded figure is from the 2017 revision at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value further to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%, and overall, from 2017 to 2024, the guideline value has risen by 64%. It's important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Pozhichalur

In Pozhichalur village, there are 299 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing Bharathi Nagar M.G.R Street above this median.

• Bharathi Nagar Namazhvar Street: Rs 1,320 per sq.ft (2024)
• Bharathi Nagar Annai Indra Nagar: Rs 1,320 per sq.ft (2024)
• Bharathi Street Sanmuga Nagar: Rs 1,320 per sq.ft (2024)
• Bharathi Nagar: Rs 1,320 per sq.ft (2024)
• Bharathithasan Street: Rs 1,320 per sq.ft (2024)
• Bharathiyar 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Nagar M.G.R Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bharathi Nagar M.G.R Street?

The Bharathi Nagar M.G.R Street falls under the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property must be registered, ensuring that the government collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty, which is charged at a specific percentage of the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Bharathi Nagar M.G.R Street?

The current guideline value of Bharathi Nagar M.G.R Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for property in Bharathi Nagar M.G.R Street?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which office handles registrations for Bharathi Nagar M.G.R Street?

The registrations for Bharathi Nagar M.G.R Street are handled by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for property registration and is used to calculate the stamp duty and registration fees, ensuring compliance with legal requirements during property transactions.