Guideline Value for Beerkaran 1st Cross Street

Beerkaran 1st Cross Street guideline value

The current guideline value of Beerkaran 1st Cross Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Beerkaran 1st Cross Street has changed

The guideline value for Beerkaran 1st Cross Street has seen several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 7,000 per sq.ft, which increased by 10% to Rs 7,700 per sq.ft in the 2024 revision.

This increase reflects a change from the previous year, indicating a rise in the guideline value from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Beerkaran 1st Cross Street's 2024 figure below that median.

• Beerkaran 1st Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 2nd Street: Rs 7,700 per sq.ft (2024)
• Beerkaran 3rd Cross Street: Rs 7,700 per sq.ft (2024)
• Beerkaran Lane 2nd Cross Street: Rs 7,700 per sq.ft (2024)
• Bazaar Road (Royapettah) Gowdia Mutt Road: Rs 13,200 per sq.ft (2024)
• Besant Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Beerkaran 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, together totaling Rs 6,93,000. 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 Beerkaran 1st Cross Street?

The Beerkaran 1st Cross Street falls under the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO online for further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, the guideline value helps in assessing the official value of the property, which is essential for legal documentation and taxation purposes. It ensures transparency in property transactions and aids in preventing undervaluation or overvaluation.

Frequently asked questions

What is the current guideline value of Beerkaran 1st Cross Street?

The current guideline value of Beerkaran 1st Cross Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, representing a 10% rise.

What is the median guideline value for streets in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft, with Beerkaran 1st Cross Street's value being below this median.

Where can I find the Sub Registrar Office for Beerkaran 1st Cross Street?

The Sub Registrar Office covering Beerkaran 1st Cross Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 5,39,000.