Guideline Value for Bhagavathi Amman 1st Cross Street

Bhagavathi Amman 1st Cross Street guideline value

The current guideline value of Bhagavathi Amman 1st Cross Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village and falls under the Madhavaram SRO. The land classification for this area is Residential Class V Type - I.

How the guideline value of Bhagavathi Amman 1st Cross Street has changed

The guideline value for Bhagavathi Amman 1st Cross Street has undergone several revisions over the years. The 2012 revision recorded a value of Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value saw a significant increase to Rs 1,800 per sq.ft, and the most recent revision in 2024 has set the guideline value at Rs 1,900 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023 and by 6% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 6%. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, which means that Bhagavathi Amman 1st Cross Street's 2024 figure is below the median.

• Bhagavathi Amman Street: Rs 1,900 per sq.ft (2024)
• Bhagavathi 1st Cross Street (Lakshmiamman Nagar): Rs 1,900 per sq.ft (2024)
• Bhagavathi Street (Lakshmiamman Nagar): Rs 1,900 per sq.ft (2024)
• Bharathidasan 1st Street (V.V. Nagar): Rs 1,900 per sq.ft (2024)
• Bharathidasan 2nd Street: Rs 3,000 per sq.ft (2024)
• Bharathidasan 2nd Street (V.V. Nagar): Rs 3,000 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total fees together Rs 1,71,000. 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 detailed calculations.

Which Sub Registrar Office covers Bhagavathi Amman 1st Cross Street?

The Bhagavathi Amman 1st Cross Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Erukancherry

The guideline value plays a crucial role in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and transparently.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Bhagavathi Amman 1st Cross Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017. It then increased to Rs 1,800 per sq.ft in 2023 and is currently Rs 1,900 per sq.ft in 2024.

What is the land classification for Bhagavathi Amman 1st Cross Street?

The land classification for Bhagavathi Amman 1st Cross Street is Residential Class V Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which Sub Registrar Office covers this street?

The Madhavaram Sub Registrar Office covers Bhagavathi Amman 1st Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.