Guideline Value for Burma Nagar

Burma Nagar guideline value

The current guideline value of Burma Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is located in Selavoyal village under the Madhavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Burma Nagar has changed

The guideline value for Burma Nagar has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. This figure changed to Rs 1,206 per sq.ft in 2017, reflecting a decrease of 20%. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,800 per sq.ft. The most recent revision in 2024 saw another increase of 6%, bringing the current guideline value to Rs 1,900 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. Burma Nagar's 2024 guideline value is below this median.

• Boopathy Salai: Rs 1,900 per sq.ft (2024)
• Binny Nagar / Binni Employees Colony: Rs 1,900 per sq.ft (2024)
• Bhatri Nagar 3rd Street: Rs 1,900 per sq.ft (2024)
• Bhatri Nagar 2nd Street: Rs 1,900 per sq.ft (2024)
• Bhatri Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Chokkammal Thottam: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Burma Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000. Together, the total cost for stamp duty and registration fee would be Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Burma Nagar?

The Sub Registrar Office that covers Burma Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selavoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is recorded at a value that reflects current market conditions. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Burma Nagar?

The current guideline value of Burma Nagar is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 27% over this period.

What are the other streets in Selavoyal with the same guideline value?

Other streets in Selavoyal with a guideline value of Rs 1,900 per sq.ft in 2024 include Boopathy Salai, Binny Nagar / Binni Employees Colony, Bhatri Nagar 1st, 2nd, and 3rd Streets, and Chokkammal Thottam.

What is the registration office for Burma Nagar?

The registration office for Burma Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for property transactions in Burma Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,00,000, the stamp duty would be calculated at 7% of this amount.