Guideline Value for Bharathi Street Sanmuga Nagar

Bharathi Street Sanmuga Nagar guideline value

The current guideline value of Bharathi Street Sanmuga Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal SRO and is classified as Residential Class I Type - II.

How the guideline value of Bharathi Street Sanmuga Nagar has changed

The guideline value for Bharathi Street Sanmuga Nagar has undergone several revisions over the years. The 2017 revision set the guideline value at Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision. The most recent revision in 2024 saw a further increase to Rs 1,320 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. The significant changes in guideline value reflect the adjustments made over the years, particularly the 49% increase from 2017 to 2023.

Guideline values in Pozhichalur

In Pozhichalur, a total of 299 streets fall under the Pammal SRO, with the 2024 guideline values 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, which is the same as the current value for Bharathi Street Sanmuga Nagar.

• Bharathithasan Street: Rs 1,320 per sq.ft (2024)
• Bharathiyar 1st Street: Rs 1,650 per sq.ft (2024)
• Bharathiyar 2nd Street: Rs 1,650 per sq.ft (2024)
• Bharathi Nagar Namazhvar Street: Rs 1,320 per sq.ft (2024)
• Bharathi Nagar M.G.R Street: Rs 2,200 per sq.ft (2024)
• Bharathiyar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathi Street Sanmuga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathi Street Sanmuga Nagar?

The Sub Registrar Office that covers Bharathi Street Sanmuga Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions in the real estate market.

Frequently asked questions

What is the current guideline value of Bharathi Street Sanmuga Nagar?

The current guideline value of Bharathi Street Sanmuga Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,320 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the land classification for Bharathi Street Sanmuga Nagar?

Bharathi Street Sanmuga Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Bharathi Street Sanmuga Nagar?

The Sub Registrar Office for Bharathi Street Sanmuga Nagar is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

How are stamp duty and registration fees calculated for properties?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 1,320 per sq.ft, the total charges would amount to Rs 1,18,800.