Guideline Value for Bhavani Amman Koil Street

Bhavani Amman Koil Street guideline value

The current guideline value of Bhavani Amman Koil Street is Rs 2,200 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 IV Type - I.

How the guideline value of Bhavani Amman Koil Street has changed

The guideline value for Bhavani Amman Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in the 2023 revision and finally rose to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, between the 2012 and 2017 revisions, the value decreased by 33%. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 guideline value for these streets is Rs 2,500 per sq.ft, placing Bhavani Amman Koil Street's 2024 figure below that median.

• Bharathiyar Street (Nehru Nagar): Rs 3,000 per sq.ft (2024)
• Bharathiyar Street Extension: Rs 3,000 per sq.ft (2024)
• Bharathiyar Street: Rs 3,000 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 Bhavani Amman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Bhavani Amman Koil Street?

The Sub Registrar Office that covers Bhavani Amman Koil Street is the Madhavaram Sub Registrar Office, 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 is a crucial factor when registering property transactions in Erukancherry. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to understand the financial implications of the transaction, including the associated fees.

Frequently asked questions

What is the current guideline value of Bhavani Amman Koil Street?

The current guideline value of Bhavani Amman Koil Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 2,000 per sq.ft in 2012, decreasing to Rs 1,340 per sq.ft in 2017, and then increasing to Rs 2,000 per sq.ft in 2023, before reaching Rs 2,200 per sq.ft in 2024.

What is the land classification for Bhavani Amman Koil Street?

Bhavani Amman Koil Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

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

For a property valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000 for these 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 handles registrations for properties in the area.