Guideline Value for Bharathidasan 2nd Street (V.V. Nagar)

Bharathidasan 2nd Street (V.V. Nagar) guideline value

The current guideline value of Bharathidasan 2nd Street (V.V. Nagar) is Rs 3,000 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 I Type - I.

How the guideline value of Bharathidasan 2nd Street (V.V. Nagar) has changed

The guideline value for Bharathidasan 2nd Street (V.V. Nagar) has seen several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,876 per sq.ft. The 2023 revision increased the value to Rs 2,800 per sq.ft, and the latest 2024 revision raised it further to Rs 3,000 per sq.ft, marking a 7% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a net increase of 7%. It is important to note that the register has no figure for Bharathidasan 2nd Street for the years 2002, 2003, and 2007.

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 in this area is Rs 2,500 per sq.ft, placing Bharathidasan 2nd Street above this median at Rs 3,000 per sq.ft.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total to Rs 2,70,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathidasan 2nd Street (V.V. Nagar)?

The Sub Registrar Office that covers Bharathidasan 2nd Street (V.V. Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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 the property can be registered, ensuring transparency in real estate transactions.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Bharathidasan 2nd Street (V.V. Nagar)?

The current guideline value of Bharathidasan 2nd Street (V.V. Nagar) is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2023 to Rs 3,000 per sq.ft in 2024, marking a 7% increase. From 2017 to 2023, it increased by 49%, and from 2012 to 2017, it decreased by 33%.

What is the land classification for Bharathidasan 2nd Street (V.V. Nagar)?

The land classification for Bharathidasan 2nd Street (V.V. Nagar) is Residential Class I Type - I.

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

For a property valued at Rs 30,00,000, the stamp duty would be Rs 2,10,000 and the registration fee would be Rs 60,000, totaling Rs 2,70,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Bharathidasan 2nd Street (V.V. Nagar)?

The Madhavaram Sub Registrar Office handles property registrations for Bharathidasan 2nd Street (V.V. Nagar), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.