Guideline Value for Bharathiyar Street Extension

Bharathiyar Street Extension guideline value

The current guideline value of Bharathiyar Street Extension 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 Extension has changed

In the 2012 revision, the guideline value was set at Rs 2,800 per sq.ft. This figure decreased to Rs 1,876 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, rising to Rs 2,800 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 3,000 per sq.ft, reflecting a 7% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for Bharathiyar Street Extension. 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 that have 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 Bharathiyar Street Extension above this median at Rs 3,000 per sq.ft.

• Bharathiyar Street (Nehru Nagar): 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 Extension

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. It is important to 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 Extension?

The Madhavaram Sub Registrar Office covers Bharathiyar Street Extension, 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 in property transactions in Erukancherry. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value of Bharathiyar Street Extension?

The current guideline value of Bharathiyar Street Extension 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 are the stamp duty and registration fees for properties here?

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.

Which office handles registrations for Bharathiyar Street Extension?

The Madhavaram Sub Registrar Office handles registrations for Bharathiyar Street Extension, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

Where can I find more information about guideline values in Erukancherry?

More information about guideline values in Erukancherry can be found in the Registration Department's guideline value register (TNReginet) or by visiting the Madhavaram Sub Registrar Office.