Guideline Value for Bharathidasan Street

Bharathidasan Street guideline value

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

How the guideline value of Bharathidasan Street has changed

In the 2012 revision, the guideline value was Rs 2,800 per sq.ft. This figure then decreased to Rs 1,876 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 2,800 per sq.ft. The latest revision in 2024 has 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 Street. Overall, 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 with a guideline value for 2024 ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Bharathidasan Street above this median.

• Bharathidasan Street (Erukkancherry): 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value would be Rs 30,00,000. The stamp duty at 7% would amount to Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total charges 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bharathidasan Street?

The Madhavaram Sub Registrar Office covers Bharathidasan Street, 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 plays a crucial role during property registration in Erukancherry. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally compliant.

When buying or selling property, the guideline value helps in establishing a baseline for the property's worth, which is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Bharathidasan Street?

The current guideline value of Bharathidasan 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 seen several changes: it was Rs 2,800 per sq.ft in 2012, decreased to Rs 1,876 per sq.ft in 2017, then rose to Rs 2,800 per sq.ft in 2023, and is now Rs 3,000 per sq.ft in 2024.

What is the land classification of Bharathidasan Street?

Bharathidasan Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, a 1,000 sq.ft plot at Rs 3,000 per sq.ft incurs a total of Rs 2,70,000 in fees.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it is responsible for the registration of properties in this area.