Guideline Value for Barath Nagar 1st Street

Barath Nagar 1st Street guideline value

The current guideline value of Barath Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Ernavur village, under the Thiruvottiyur SRO, and is classified as Commercial Class I Type - II.

How the guideline value of Barath Nagar 1st Street has changed

The guideline value for Barath Nagar 1st Street has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which saw a significant increase to Rs 3,000 per sq.ft in 2012, marking a rise of 1100%. However, this was followed by a decrease to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, and most recently, it has risen to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1220%.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a guideline value for 2024, with values ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median value among these streets is Rs 1,600 per sq.ft, placing Barath Nagar 1st Street's 2024 guideline value above this median.

• Barath Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Barath Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Barath Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Balaji Nagar: Rs 1,600 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,400 per sq.ft (2024)
• Brinadavan Nagar Extension: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Barath Nagar 1st Street

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

Which Sub Registrar Office covers Barath Nagar 1st Street?

The Sub Registrar Office that covers Barath Nagar 1st Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ernavur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the transaction is recorded accurately. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Barath Nagar 1st Street?

The current guideline value of Barath Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 250 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1220%.

What are the other streets in Ernavur with similar guideline values?

Other streets in Ernavur with the same guideline value of Rs 3,300 per sq.ft in 2024 include Barath Nagar 2nd Street, Barath Nagar 3rd Street, and Barath Nagar 4th Street.

What is the registration office for Barath Nagar 1st Street?

The registration office for Barath Nagar 1st Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Barath Nagar 1st Street?

Stamp duty for properties in Barath Nagar 1st Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,300 per sq.ft incurs a total stamp duty of Rs 2,31,000.