Guideline Value for MAHAKAVI BHARATHI NAGAR

Mahakavi Bharathi Nagar guideline value

The current guideline value of Mahakavi Bharathi Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024. This area is located in Perungalathur village under the Padappai SRO, classified as Commercial Class I Type - II.

How the guideline value of Mahakavi Bharathi Nagar has changed

The guideline value for Mahakavi Bharathi Nagar has seen several revisions over the years. The 2017 revision recorded a value of Rs 1,809 per sq.ft, which increased to Rs 2,700 per sq.ft in 2023, marking a significant increase of 49%. The latest revision in 2024 set the guideline value at Rs 2,970 per sq.ft, reflecting a further increase of 10% 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 years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,310 per sq.ft, placing Mahakavi Bharathi Nagar's 2024 figure above that median.

• Maha Kavi Alvar Street: Rs 1,980 per sq.ft (2024)
• Magesh Nagar Extn: Rs 2,310 per sq.ft (2024)
• Magesh Nagar: Rs 2,310 per sq.ft (2024)
• Madurakavi Alwar Theru: Rs 2,310 per sq.ft (2024)
• Mahalaxmi Nagar: Rs 2,640 per sq.ft (2024)
• Madan Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mahakavi Bharathi Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, totaling Rs 2,67,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mahakavi Bharathi Nagar?

The Sub Registrar Office that covers Mahakavi Bharathi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It determines the minimum value at which the property can be registered, ensuring transparency in property transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mahakavi Bharathi Nagar?

The current guideline value of Mahakavi Bharathi Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,809 per sq.ft to Rs 2,970 per sq.ft in 2024, which is an overall increase of 64%.

What are the stamp duty rates for properties in Mahakavi Bharathi Nagar?

The stamp duty rate for properties in Mahakavi Bharathi Nagar is 7%, calculated on the higher of the guideline value or the sale price.

Where can I find the registration office for Mahakavi Bharathi Nagar?

The registration office for Mahakavi Bharathi Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the median guideline value in Perungalathur?

The median guideline value in Perungalathur is Rs 2,310 per sq.ft, with Mahakavi Bharathi Nagar's 2024 figure being above this median.