Guideline Value for Mahakavi Subramaniya Bharthi Nagar I

Mahakavi Subramaniya Bharthi Nagar I guideline value

The current guideline value for Mahakavi Subramaniya Bharthi Nagar I is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Eraiyur village and falls under the Sriperumpudur SRO. The land classification is Residential Class II Type - I.

How the guideline value of Mahakavi Subramaniya Bharthi Nagar I has changed

Over the years, the guideline value for Mahakavi Subramaniya Bharthi Nagar I has experienced several revisions. The 2007 revision set the value at Rs 98 per sq.ft, which increased to Rs 200 per sq.ft in 2012. However, in 2017, the value was adjusted down to Rs 134 per sq.ft. The most recent revisions in 2023 and 2024 have maintained the guideline value at Rs 200 per sq.ft, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Notably, from 2007 to 2012, the value saw a substantial increase of 104%. Overall, from 2007 to 2024, the guideline value has risen by 104%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Eraiyur

In Eraiyur village, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft, with the median value being Rs 200 per sq.ft. Mahakavi Subramaniya Bharthi Nagar I's 2024 figure matches this median.

• Mahalakshmi Nagar: Rs 200 per sq.ft (2024)
• Madha Koil Street: Rs 200 per sq.ft (2024)
• Krishnammal Nagar: Rs 200 per sq.ft (2024)
• Mettu Colony: Rs 100 per sq.ft (2024)
• Jeyam Nagar: Rs 200 per sq.ft (2024)
• Isvariyam Avenue: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Mahakavi Subramaniya Bharthi Nagar I

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. 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 details.

Which Sub Registrar Office covers Mahakavi Subramaniya Bharthi Nagar I?

The Sub Registrar Office that covers Mahakavi Subramaniya Bharthi Nagar I is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Eraiyur

The guideline value plays a crucial role in the registration process when buying or selling property in Eraiyur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This ensures that the transactions are transparent and in accordance with government regulations, safeguarding both buyers and sellers.

Frequently asked questions

What is the current guideline value of Mahakavi Subramaniya Bharthi Nagar I?

The current guideline value of Mahakavi Subramaniya Bharthi Nagar I is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 200 per sq.ft in both 2023 and 2024. It was Rs 134 per sq.ft in 2017, and previously Rs 200 per sq.ft in 2012.

What is the land classification for Mahakavi Subramaniya Bharthi Nagar I?

The land classification for Mahakavi Subramaniya Bharthi Nagar I is Residential Class II Type - I.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in Mahakavi Subramaniya Bharthi Nagar I is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Mahakavi Subramaniya Bharthi Nagar I?

The Sub Registrar Office for Mahakavi Subramaniya Bharthi Nagar I is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.