Guideline Value for M.G.R. Nagar Bharathiyar Street

M.G.R. Nagar Bharathiyar Street guideline value

The current guideline value of M.G.R. Nagar Bharathiyar Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of M.G.R. Nagar Bharathiyar Street has changed

The guideline value for M.G.R. Nagar Bharathiyar Street has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 536 per sq.ft. However, the value rose significantly to Rs 800 per sq.ft in the 2023 revision, and the latest revision in 2024 has set it at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. M.G.R. Nagar Bharathiyar Street's 2024 figure is below this median.

• M.G.R. Nagar ilango Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar Kattabomman Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar Thiruvalluvar Street: Rs 880 per sq.ft (2024)
• M.G.R. Nagar Valmeeki Street: Rs 880 per sq.ft (2024)
• M.G.R 2st cross street: Rs 880 per sq.ft (2024)
• M.G.R 1st cross street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in M.G.R. Nagar Bharathiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value is Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.G.R. Nagar Bharathiyar Street?

The Sub Registrar Office that covers M.G.R. Nagar Bharathiyar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Peerklankaranai

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

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of M.G.R. Nagar Bharathiyar Street?

The current guideline value of M.G.R. Nagar Bharathiyar Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for M.G.R. Nagar Bharathiyar Street?

The land classification for M.G.R. Nagar Bharathiyar Street is Residential Class II Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for M.G.R. Nagar Bharathiyar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Peerklankaranai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 8,80,000, the stamp duty at 7% would be Rs 61,600.