Guideline Value for Baradhdasan Street (Vivekananda Nagar)

Baradhdasan Street (Vivekananda Nagar) guideline value

The current guideline value of Baradhdasan Street (Vivekananda Nagar) is Rs 3,000 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Baradhdasan Street (Vivekananda Nagar) has changed

The guideline value for Baradhdasan Street (Vivekananda Nagar) has seen several revisions over the years. In 2012, the guideline value was set at Rs 2,800 per sq.ft. This was followed by a decrease to Rs 1,876 per sq.ft in 2017. The value then increased significantly to Rs 2,800 per sq.ft in 2023, and finally to the current Rs 3,000 per sq.ft in 2024, marking a 7% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, while the increase from 2017 to 2023 was notable at 49%. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value is Rs 2,500 per sq.ft, placing Baradhdasan Street's 2024 guideline value above this median.

• Baradhiar Street (Vivekananda Nagar): Rs 3,000 per sq.ft (2024)
• Balakrishnan Street (Nehru Nagar): Rs 2,200 per sq.ft (2024)
• Balakrishnan Street: Rs 2,500 per sq.ft (2024)
• Balaji Street: Rs 2,500 per sq.ft (2024)
• Bhagavathi 1st Cross Street (Lakshmiamman Nagar): Rs 1,900 per sq.ft (2024)
• Bhagavathi Amman 1st Cross Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Baradhdasan Street (Vivekananda Nagar)

For a 1,000 sq.ft plot at the current rate of Rs 3,000 per sq.ft, the guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, totaling Rs 2,70,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Baradhdasan Street (Vivekananda Nagar)?

The Sub Registrar Office that covers Baradhdasan Street (Vivekananda Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is crucial during property transactions in Erukancherry, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is important for buyers to be aware of the guideline value to avoid overpaying in stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Baradhdasan Street (Vivekananda Nagar)?

The current guideline value of Baradhdasan Street (Vivekananda Nagar) is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and is currently Rs 3,000 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 30,00,000, the stamp duty would be Rs 2,10,000 and the registration fee would be Rs 60,000, totaling Rs 2,70,000.

Which office handles the registration for Baradhdasan Street?

The Madhavaram Sub Registrar Office handles the registration for Baradhdasan Street (Vivekananda Nagar), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it sets the minimum value for property registration, affecting the stamp duty and registration fees. It ensures that properties are recorded at a fair value for legal and taxation purposes.