Guideline Value for Prem Nagar (Bharathi Street.)

Prem Nagar (Bharathi Street.) guideline value

The current guideline value of Prem Nagar (Bharathi Street.) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Prem Nagar (Bharathi Street.) has changed

The guideline value for Prem Nagar (Bharathi Street.) has seen several revisions over the years. In 2007, the value was Rs 550 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 445%. However, from 2012 to 2017, it decreased to Rs 2,010 per sq.ft, a drop of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision, reflecting a 10% increase from the previous year.

Notably, there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 500%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with 2024 guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, making the current value of Rs 3,300 per sq.ft for Prem Nagar (Bharathi Street.) below the median.

• Postal Audit Colony: Rs 4,400 per sq.ft (2024)
• Purushothaman Street: Rs 3,300 per sq.ft (2024)
• Pushpa Colony: Rs 4,400 per sq.ft (2024)
• Puviyathamman Koil Street: Rs 2,750 per sq.ft (2024)
• P.V. Rajamannar Salai: Rs 7,140 per sq.ft (2024)
• Ponniamman Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Prem Nagar (Bharathi Street.)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Prem Nagar (Bharathi Street.)?

The Sub Registrar Office that covers Prem Nagar (Bharathi Street.) is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Saligramam. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction complies with the legal requirements, and the fees are calculated based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Prem Nagar (Bharathi Street.)?

The current guideline value of Prem Nagar (Bharathi Street.) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 500% over the years.

What is the land classification for Prem Nagar (Bharathi Street.)?

Prem Nagar (Bharathi Street.) is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Prem Nagar (Bharathi Street.)?

The Sub Registrar Office for Prem Nagar (Bharathi Street.) is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for property in Prem Nagar (Bharathi Street.)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.