Guideline Value for Durga Nagar Bharathi Street

Durga Nagar Bharathi Street guideline value

The current guideline value of Durga Nagar Bharathi Street is Rs 2,420 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village and falls under the Pammal SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Durga Nagar Bharathi Street has changed

The guideline value for Durga Nagar Bharathi Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,474 per sq.ft, which increased to Rs 2,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,420 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, which is the same as the current value for Durga Nagar Bharathi Street.

• Durga Nagar Bharathidhasan 2nd Cross Street: Rs 2,420 per sq.ft (2024)
• Durga Nagar Bhavaniamman Street: Rs 2,420 per sq.ft (2024)
• Durga Nagar Bharathidhasan 1st Cross Street: Rs 2,420 per sq.ft (2024)
• Durga Nagar Dhagur Street: Rs 2,420 per sq.ft (2024)
• Durga Nagar Avvaiyar Street: Rs 2,420 per sq.ft (2024)
• Durga Nagar Gandhi Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Durga Nagar Bharathi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty, charged at 7%, would amount to Rs 1,69,400, while the registration fee, charged at 2%, would be Rs 48,400. Together, the total cost for these fees would be Rs 2,17,800. 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 detailed calculations.

Which Sub Registrar Office covers Durga Nagar Bharathi Street?

The Sub Registrar Office that covers Durga Nagar Bharathi Street is 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 Thiruneermalai

The guideline value is an essential factor in the registration process when buying or selling property in Thiruneermalai. It serves as a benchmark for determining the minimum value at which property transactions can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is registered at a value that reflects the market conditions and protects the interests of both the buyer and the seller.

Frequently asked questions

What is the current guideline value of Durga Nagar Bharathi Street?

The current guideline value of Durga Nagar Bharathi Street is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,474 per sq.ft to Rs 2,420 per sq.ft in 2024, which is an overall increase of 64%.

What is the land classification for Durga Nagar Bharathi Street?

The land classification for Durga Nagar Bharathi Street is Residential Class I Type - I.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Durga Nagar Bharathi Street?

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 24,20,000 would incur a stamp duty of Rs 1,69,400 at a rate of 7%.