Guideline Value for Bharathidasan 2nd Street

Bharathidasan 2nd Street guideline value

The current guideline value of Bharathidasan 2nd Street is Rs 3,000 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Bharathidasan 2nd Street has changed

In the 2012 revision, the guideline value was Rs 2,800 per sq.ft. This figure remained the same in the 2012 revision but dropped to Rs 1,876 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, there was a significant increase to Rs 2,800 per sq.ft in the 2023 revision, which represented a 49% rise. The latest revision in 2024 set the guideline value at Rs 3,000 per sq.ft, reflecting a 7% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Bharathidasan 2nd Street. Overall, from 2012 to 2024, the guideline value has seen an increase of 7%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values 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, placing Bharathidasan 2nd Street's 2024 figure above this median.

• Bharathidasan 1st Street (V.V. Nagar): Rs 1,900 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 2nd Street

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 or the sale price.

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

Which Sub Registrar Office covers Bharathidasan 2nd Street?

The Sub Registrar Office covering Bharathidasan 2nd Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions, as it determines the minimum price at which a property can be registered. When buying or selling property in Erukancherry, it is essential to consider the guideline value, as it impacts the stamp duty and registration fees applicable to the transaction.

During the registration process, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Bharathidasan 2nd Street?

The current guideline value of Bharathidasan 2nd Street 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 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the median guideline value for streets in Erukancherry?

The median guideline value for streets in Erukancherry is Rs 2,500 per sq.ft, with Bharathidasan 2nd Street's value being above this median.

What are the stamp duty and registration fees for properties here?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,70,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.