Guideline Value for Barath Nagar 3rd Street

Barath Nagar 3rd Street guideline value

The current guideline value of Barath Nagar 3rd 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 3rd Street has changed

Over the years, the guideline value of Barath Nagar 3rd Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 250 per sq.ft, which then increased dramatically to Rs 3,000 per sq.ft in the 2012 revision, marking an increase of 1,100%. However, in the 2017 revision, the value decreased to Rs 2,010 per sq.ft, a reduction of 33%. The value then rose to Rs 3,000 per sq.ft in the 2023 revision, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

The revisions for the years 2002 and 2003 do not have any figures recorded for Barath Nagar 3rd Street in the register.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. Barath Nagar 3rd Street's 2024 figure of Rs 3,300 per sq.ft is above this median.

• Barath Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Barath Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Barath Nagar 1st 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 3rd 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, totaling 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Barath Nagar 3rd Street?

The Sub Registrar Office that covers Barath Nagar 3rd 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 is a crucial factor when buying or selling property in Ernavur. It serves as a benchmark for determining the minimum value at which properties can be registered. This ensures that the government receives appropriate revenue from property transactions through stamp duty and registration fees.

When you proceed with a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Barath Nagar 3rd Street?

The current guideline value of Barath Nagar 3rd 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 250 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,220% over the years.

What are the stamp duty and registration fees for property in Barath Nagar 3rd Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Barath Nagar 3rd Street?

The Thiruvottiyur Sub Registrar Office handles registrations for Barath Nagar 3rd Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Barath Nagar 3rd Street?

Barath Nagar 3rd Street is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.