Guideline Value for Beerkaran 1st Street

Beerkaran 1st Street guideline value

The current guideline value of Beerkaran 1st 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, classified as Residential Class II Type - I.

How the guideline value of Beerkaran 1st Street has changed

The guideline value for Beerkaran 1st Street has undergone several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show that the guideline value was Rs 7,000 per sq.ft in the 2023 revision, which increased by 10% to Rs 7,700 per sq.ft in the 2024 revision.

This change reflects the latest update in the guideline value register, indicating a significant increase from the previous year. The 2024 figure places Beerkaran 1st Street below the median guideline value of Rs 8,800 per sq.ft for the Mylapore Part 1 village.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, making the 2024 figure for Beerkaran 1st Street lower than this median.

• Beerkaran 1st Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, bringing the total to Rs 6,93,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Beerkaran 1st Street?

The Sub Registrar Office that covers Beerkaran 1st Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014. For more information, you can find your SRO.

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

The guideline value is a critical factor during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property, which is essential for legal and financial processes. This value is particularly important for calculating taxes and fees associated with the transaction.

Frequently asked questions

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

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

How 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, reflecting a 10% increase.

What is the land classification of Beerkaran 1st Street?

Beerkaran 1st Street is classified as Residential Class II Type - I.

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

The Sub Registrar Office for Beerkaran 1st Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Beerkaran 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000.