Guideline Value for Bharathidasan Street / Muthamzhi Nagar

Bharathidasan Street / Muthamzhi Nagar guideline value

The current guideline value of Bharathidasan Street / Muthamzhi Nagar is Rs 2,475 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 I Type - II.

How the guideline value of Bharathidasan Street / Muthamzhi Nagar has changed

The guideline value has undergone several revisions over the years. In 2002, the value was Rs 242 per sq.ft, which increased to Rs 274 per sq.ft in 2003, marking a 13% rise. By 2007, the value had jumped to Rs 360 per sq.ft, reflecting a 31% increase. The 2017 revision saw a significant increase to Rs 1,507 per sq.ft, which was a 319% rise from 2007. The value then rose to Rs 2,250 per sq.ft in 2023, showing a 49% increase from 2017.

The latest revision in 2024 set the guideline value at Rs 2,475 per sq.ft, representing a 10% increase from the previous year. It is important to note that the register has no figure for this street for the year 2012.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Bharathidasan Street / Muthamzhi Nagar above this median.

• Bharathidasan Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Bharathidasan 2nd Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Bharathidasan 1st Street / VOC Nagar: Rs 2,750 per sq.ft (2024)
• Bharathi Nagar /MGR Salai: Rs 1,980 per sq.ft (2024)
• Bhanth Street / Ganapathy Nagar: Rs 1,980 per sq.ft (2024)
• Bhakthavatchalam Street, Nagelkeni: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathidasan Street / Muthamzhi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total fees to Rs 2,22,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathidasan Street / Muthamzhi Nagar?

The Bharathidasan Street / Muthamzhi Nagar 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 Pammal

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. This ensures transparency and compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Bharathidasan Street / Muthamzhi Nagar?

The current guideline value of Bharathidasan Street / Muthamzhi Nagar is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant increases over the years, from Rs 242 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, marking an overall increase of 923%.

What is the Pammal SRO?

The Pammal SRO is the Sub Registrar Office responsible for property registrations in Pammal village, including Bharathidasan Street / Muthamzhi Nagar.

How is stamp duty calculated for properties in Bharathidasan Street / Muthamzhi Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 1,73,250.

Are there other streets with different guideline values in Pammal?

Yes, there are several other streets in Pammal with varying guideline values. For instance, Bharathidasan Street / VOC Nagar has a guideline value of Rs 2,750 per sq.ft as of 2024.