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Guideline Value

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Guideline Value for Bharathiyar Nagar (MGR Puram)

₹1700/sq.ft.

The guideline value for Bharathiyar Nagar (mgr Puram) in Neelankarai village (Neelankarai SRO, Chennai zone) is Rs 1700 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 13% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Neelankarai

Village

Neelankarai

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹1700 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹250 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹102 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹93 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bharathiyar Nagar (mgr Puram)

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Bharathiyar Nagar (MGR Puram) guideline value

The current guideline value of Bharathiyar Nagar (MGR Puram) is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Bharathiyar Nagar (MGR Puram) has changed

The guideline value for Bharathiyar Nagar (MGR Puram) has seen several revisions over the years. In 2002, the value was set at Rs 93 per sq.ft, which increased to Rs 102 per sq.ft in 2003. Following this, the value rose significantly to Rs 250 per sq.ft in 2007, and then to Rs 1,500 per sq.ft in 2012. However, it dropped to Rs 1,005 per sq.ft in 2017, before increasing again to Rs 1,500 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 1,700 per sq.ft.

Examining the changes, the guideline value increased by 10% from 2002 to 2003, followed by a remarkable 145% rise from 2003 to 2007. From 2007 to 2012, there was a substantial increase of 500%. However, the value saw a decrease of 33% from 2012 to 2017. The subsequent increase from 2017 to 2023 was 49%, and the latest revision from 2023 to 2024 reflects a 13% increase. Overall, from 2002 to 2024, the guideline value has risen by 1,728%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Bharathiyar Nagar (MGR Puram) is currently below this median value.

Stamp duty and registration fee for property in Bharathiyar Nagar (MGR Puram)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathiyar Nagar (MGR Puram)?

The Sub Registrar Office that covers Bharathiyar Nagar (MGR Puram) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Neelankarai. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value is assessed to determine the applicable fees. It is essential to be aware that the fees are calculated based on the higher of the guideline value or the actual sale price, ensuring compliance with the regulations set forth by the registration department.

Frequently asked questions

What is the current guideline value of Bharathiyar Nagar (MGR Puram)?

The current guideline value of Bharathiyar Nagar (MGR Puram) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 93 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 1,728% over this period.

What is the land classification of Bharathiyar Nagar (MGR Puram)?

Bharathiyar Nagar (MGR Puram) is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in Bharathiyar Nagar (MGR Puram)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 17,00,000 would incur a stamp duty of Rs 1,19,000 at 7%.