Guideline Value for Baradhiar Street (Vivekananda Nagar)

Baradhiar Street (Vivekananda Nagar) guideline value

The current guideline value of Baradhiar 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, and is classified as Residential Class I Type - I.

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

The guideline value for Baradhiar Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,800 per sq.ft. This value decreased to Rs 1,876 per sq.ft in the 2017 revision, marking a significant drop of 33%. However, from 2017 to 2023, the value increased by 49%, reaching Rs 2,800 per sq.ft again. The most recent revision in 2024 has raised the guideline value to Rs 3,000 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that have a guideline value for 2024, with values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, placing Baradhiar Street's 2024 figure above that median.

• Baradhdasan 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 Baradhiar Street (Vivekananda Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value amounts to Rs 30,00,000. The stamp duty, charged at 7%, would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total fees to Rs 2,70,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Baradhiar 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 a crucial factor in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

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

Frequently asked questions

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

The current guideline value of Baradhiar 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 finally to Rs 3,000 per sq.ft in 2024.

What is the land classification of Baradhiar Street (Vivekananda Nagar)?

Baradhiar Street (Vivekananda Nagar) is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for Baradhiar Street?

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

How is stamp duty calculated for properties in Erukancherry?

Stamp duty for properties in Erukancherry is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.