Guideline Value for Britania Nagar

Britania Nagar guideline value

The current guideline value of Britania Nagar, located in Thirumullaivoyal village, under the Ambattur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Britania Nagar has changed

The guideline value for Britania Nagar has seen several revisions over the years. Starting from Rs 144 per sq.ft in 2002, it increased to Rs 200 per sq.ft in 2003, marking a 39% rise. The value then rose to Rs 400 per sq.ft in 2007, reflecting a significant increase of 100%. By 2012, the guideline value reached Rs 2,200 per sq.ft, maintaining the same rate until 2023.

In 2023, the guideline value was revised to Rs 2,200 per sq.ft, but it increased to Rs 2,400 per sq.ft in the 2024 revision, which is a 9% increase. Overall, from 2002 to 2024, the guideline value has risen by 1567%. There is no figure available for the year 2017 for this street.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which is the same as the current value for Britania Nagar.

• Brindavan Avenue (Sri Nagar Colony): Rs 2,700 per sq.ft (2024)
• Car shed Complex Road: Rs 2,400 per sq.ft (2024)
• B.M.S Nagar: Rs 2,400 per sq.ft (2024)
• Challavel Nagar: Rs 1,600 per sq.ft (2024)
• Bhavani Amman Street: Rs 1,100 per sq.ft (2024)
• Chekizhar Street(senthil nagar): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Britania Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total fees to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Britania Nagar?

The Sub Registrar Office that covers Britania Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Thirumullaivoyal. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps establish the minimum value at which the property can be registered. This means that if the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value instead of the sale price.

Frequently asked questions

What is the current guideline value of Britania Nagar?

The current guideline value of Britania Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 144 per sq.ft in 2002 to Rs 2,400 per sq.ft in 2024, with various revisions along the way, including a significant rise from Rs 400 in 2007 to Rs 2,200 in 2012.

What are the stamp duty and registration fees for properties in Britania Nagar?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000, and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Which office handles property registrations in Britania Nagar?

The Ambattur Sub Registrar Office handles property registrations for Britania Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification for Britania Nagar?

Britania Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.