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 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is 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 most recent revision in 2024 set the guideline value at Rs 7,700 per sq.ft, an increase of 10% from the 2023 figure of Rs 7,000 per sq.ft. Prior to the 2023 revision, the register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

To summarize the revisions, the 2023 guideline value was Rs 7,000 per sq.ft, while the 2024 revision increased this to Rs 7,700 per sq.ft. The historical data shows that there are no recorded figures for the years leading up to 2023, indicating a lack of updates for this street during those years.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Beerkaran 1st Street is below 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 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, bringing the total fees together 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.

For more information, you can use our stamp duty and registration fee calculator.

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. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a critical factor in property transactions in Mylapore Part 2, as it determines the official value of the property for registration purposes. When a property is bought or sold, the guideline value is used to calculate the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the guideline value to ensure compliance with legal requirements and to understand the financial implications of their property transactions. This value serves as a benchmark for assessing the worth of the property in the eyes of the Registration Department.

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 over the years?

The guideline value changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a 10% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office is responsible for Beerkaran 1st Street?

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

What is the land classification for Beerkaran 1st Street?

The land classification for Beerkaran 1st Street is Residential Class II Type - I, indicating its designation for residential purposes within the area.