Guideline Value for Bharathiyar Street, V.O.C Nagar

Bharathiyar Street, V.O.C Nagar guideline value

The current guideline value of Bharathiyar Street, V.O.C Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Pammal village under the Pammal SRO and falls under the Commercial Class I Type - II land classification.

How the guideline value of Bharathiyar Street, V.O.C Nagar has changed

The guideline value for Bharathiyar Street, V.O.C Nagar has seen significant changes over the years. The 2017 revision recorded a guideline value of Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent 2024 revision set the guideline value at Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

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. The median guideline value in this village is Rs 2,090 per sq.ft, making the current guideline value of Bharathiyar Street, V.O.C Nagar above this median.

• Bharathiyar Street, Pasumpon Nagar: Rs 1,980 per sq.ft (2024)
• Bharathiyar Street, Nagelkeni: Rs 1,980 per sq.ft (2024)
• Bharath Nagar: Rs 1,980 per sq.ft (2024)
• Bharathiyar Street: Rs 1,980 per sq.ft (2024)
• Bharathi Nagar /MGR Salai: Rs 1,980 per sq.ft (2024)
• Bhoopathi Street, Gandhi Nagar Extn: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Street, V.O.C Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, charged at 7%, would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is essential to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Bharathiyar Street, V.O.C Nagar?

The Sub Registrar Office that covers Bharathiyar Street, V.O.C Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the 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 Pammal

The guideline value is a crucial factor in the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is important to be aware of the guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Bharathiyar Street, V.O.C Nagar?

The current guideline value of Bharathiyar Street, V.O.C Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2023, and then to Rs 2,750 per sq.ft in 2024. This reflects a 64% increase from 2017 to 2024.

What are the stamp duty and registration fees for properties in Bharathiyar Street, V.O.C Nagar?

The stamp duty is charged at 7% and the registration fee at 2%. For a property valued at Rs 27,50,000, the total stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000.

Which Sub Registrar Office covers Bharathiyar Street, V.O.C Nagar?

The Pammal Sub Registrar Office covers Bharathiyar Street, V.O.C Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

The guideline value serves as a benchmark for property registration, ensuring that properties are registered at a minimum value. It helps in calculating the stamp duty and registration fees that need to be paid during property transactions.