Guideline Value for Bharathidasan Street (Erukkancherry)

Bharathidasan Street (Erukkancherry) guideline value

The current guideline value of Bharathidasan Street (Erukkancherry) 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 Street (Erukkancherry) has changed

The guideline value for Bharathidasan Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023. The most recent revision in 2024 saw another increase, bringing the value to Rs 3,000 per sq.ft. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007.

Examining the changes, the guideline value increased by 49% from 2017 to 2023 and by 7% from 2023 to 2024. When looking at the overall change from 2012 to 2024, the guideline value has increased by 7%.

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. Bharathidasan Street's 2024 guideline value of Rs 3,000 per sq.ft is above this median.

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

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, charged at 7%, would be Rs 2,10,000, while the registration fee at 2% would be Rs 60,000, bringing the total fees 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bharathidasan Street (Erukkancherry)?

The Sub Registrar Office that covers Bharathidasan Street (Erukkancherry) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific 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 during the registration of property transactions in Erukancherry. It is used as a basis for calculating the stamp duty and registration fees, which are mandatory when buying or selling property. Buyers should be aware that the guideline value is considered along with the sale price to determine the applicable fees.

When engaging in property transactions, it is essential to refer to the guideline value to ensure compliance with local regulations. This value is updated periodically, reflecting changes in the real estate market, and serves as a benchmark for assessing property transactions.

Frequently asked questions

What is the current guideline value of Bharathidasan Street (Erukkancherry)?

The current guideline value of Bharathidasan Street (Erukkancherry) 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 range of guideline values in Erukancherry?

In Erukancherry, the guideline values range from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft.

What are the stamp duty and registration fees for property in Bharathidasan Street?

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

Where can I find the Sub Registrar Office for Bharathidasan Street?

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