Guideline Value for Barath Nagar 2nd Street

Barath Nagar 2nd Street guideline value

The current guideline value of Barath Nagar 2nd 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 2nd Street has changed

The guideline value of Barath Nagar 2nd Street has seen significant changes over the years. In the 2007 revision, the value was Rs 250 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in 2012, marking a rise of 1,100%. However, in the 2017 revision, the value 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 the 2023 revision, and most recently, it increased to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1,220%. The register has no figures for the years 2002 and 2003 for this street.

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. The guideline value of Barath Nagar 2nd Street is above this median.

• Barath Nagar 1st 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 2nd 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Barath Nagar 2nd Street?

The Sub Registrar Office that covers Barath Nagar 2nd 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 an important reference point when buying or selling property in Ernavur. It is used to determine the stamp duty and registration fees payable during the registration process. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

When a property is registered, the authorities will charge the stamp duty based on the higher value between the guideline value and the sale price. Therefore, it is essential for both buyers and sellers to understand the guideline value to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Barath Nagar 2nd Street?

The current guideline value of Barath Nagar 2nd 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 significantly, from Rs 250 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,220%.

What are the stamp duty and registration fees for properties in Barath Nagar 2nd Street?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Barath Nagar 2nd Street?

The Thiruvottiyur Sub Registrar Office covers Barath Nagar 2nd Street, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Barath Nagar 2nd Street?

Barath Nagar 2nd Street is classified as Commercial Class I Type - II.