Guideline Value for Bharathiyar Street (Nehru Nagar)

Bharathiyar Street (Nehru Nagar) guideline value

The current guideline value of Bharathiyar Street (Nehru Nagar) 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 Bharathiyar Street (Nehru Nagar) has changed

The guideline value for Bharathiyar Street has undergone several revisions over the years. In 2012, the guideline value was Rs 2,800 per sq.ft. This figure remained until the 2017 revision, where it dropped to Rs 1,876 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value significantly increased to Rs 2,800 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the value at Rs 3,000 per sq.ft, which is a 7% increase from the previous year.

It is important to note that there are no figures available for this street in the revisions of 2002, 2003, and 2007. 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 2024 guideline value 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, which means that Bharathiyar Street's current value is above this median.

• Bharathiyar Street Extension: Rs 3,000 per sq.ft (2024)
• Bharathiyar Street: Rs 3,000 per sq.ft (2024)
• Bhavani Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Big Street: Rs 1,900 per sq.ft (2024)
• Bharathidasan Street (Erukkancherry): Rs 3,000 per sq.ft (2024)
• Bharathidasan Street: Rs 3,000 per sq.ft (2024)

Stamp duty and registration fee for property in Bharathiyar Street (Nehru 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 fees to Rs 2,70,000. Please note that the 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 information.

Which Sub Registrar Office covers Bharathiyar Street (Nehru Nagar)?

The Madhavaram Sub Registrar Office covers Bharathiyar Street (Nehru Nagar). The office is 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 is a crucial factor when registering property transactions in Erukancherry. It determines the minimum value at which a property can be sold and is used to calculate the applicable stamp duty and registration fees.

When you buy or sell property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property transactions and ensures that the correct fees are paid to the government.

Frequently asked questions

What is the current guideline value of Bharathiyar Street (Nehru Nagar)?

The current guideline value of Bharathiyar Street (Nehru 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 2012 to Rs 1,876 per sq.ft in 2017, then back to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the land classification of Bharathiyar Street?

Bharathiyar Street (Nehru Nagar) is classified as Residential Class I Type - I.

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

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

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

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details online.