Guideline Value for Bharathidasan 1st Street (V.V. Nagar)

Bharathidasan 1st Street (V.V. Nagar) guideline value

The current guideline value of Bharathidasan 1st Street (V.V. Nagar) 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, classified as Residential Class V Type - I.

How the guideline value of Bharathidasan 1st Street (V.V. Nagar) has changed

The guideline value for Bharathidasan 1st Street (V.V. Nagar) has undergone several revisions over the years. In 2012, the guideline value was Rs 1,800 per sq.ft. This figure decreased to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, representing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,900 per sq.ft, which is a 6% increase from the previous year’s value of Rs 1,800 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. 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 have a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median of Rs 2,500 per sq.ft. Bharathidasan 1st Street (V.V. Nagar) is currently below this median value.

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

Stamp duty and registration fee for property in Bharathidasan 1st Street (V.V. Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total cost for these fees Rs 1,71,000. It is important to note that 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 Bharathidasan 1st Street (V.V. Nagar)?

The Bharathidasan 1st Street (V.V. Nagar) falls under 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 is a crucial factor when registering property transactions in Erukancherry. It serves as a benchmark for determining the minimum value of a property, ensuring that the transaction is recorded at a fair value according to government regulations.

When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the property transfer. This ensures transparency and compliance with the legal framework governing property transactions in the region.

Frequently asked questions

What is the current guideline value of Bharathidasan 1st Street (V.V. Nagar)?

The current guideline value of Bharathidasan 1st Street (V.V. Nagar) 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 back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What are the stamp duty and registration fees for properties 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 office handles property registrations for Bharathidasan 1st Street (V.V. Nagar)?

The Madhavaram Sub Registrar Office handles property registrations for Bharathidasan 1st Street (V.V. Nagar), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the land classification for Bharathidasan 1st Street (V.V. Nagar)?

Bharathidasan 1st Street (V.V. Nagar) is classified as Residential Class V Type - I according to the guideline value register.