Guideline Value for Bhagavathi Amman Street

Bhagavathi Amman Street guideline value

The current guideline value of Bhagavathi Amman Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class V Type - I.

How the guideline value of Bhagavathi Amman Street has changed

The guideline value for Bhagavathi Amman Street has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 1,800 per sq.ft. This value decreased to Rs 1,206 per sq.ft in the 2017 revision. After that, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and finally rose to Rs 1,900 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023, followed by a 6% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Erukancherry

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

• Bhagavathi Amman 1st Cross 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 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, bringing the total cost to 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 our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bhagavathi Amman Street?

The Sub Registrar Office that covers Bhagavathi Amman Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Erukancherry. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Bhagavathi Amman Street?

The current guideline value of Bhagavathi Amman 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, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Bhagavathi Amman Street?

Bhagavathi Amman Street is classified as 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.

Where is the Sub Registrar Office for Bhagavathi Amman Street located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.