Guideline Value for Agathiar Street

Agathiar Street guideline value

The current guideline value of Agathiar Street in Erukancherry village under the Madhavaram SRO is Rs 2,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Agathiar Street has changed

The guideline value for Agathiar Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was then reduced to Rs 1,541 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,300 per sq.ft, and the most recent 2024 revision has set it at Rs 2,500 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The guideline value then increased by 9% from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with the 2024 guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median guideline value is Rs 2,500 per sq.ft, which is equal to the current value of Agathiar Street.

• Ambedkar 1st Cross Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Ambedkar 1st Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Ambedkar 2nd Cross Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Ambedkar 2nd Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Ambedkar 3rd Cross Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Ambedkar Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Agathiar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, while the registration fee at 2% would be Rs 50,000, making the total fees together Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Agathiar Street?

The Sub Registrar Office that covers Agathiar 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 plays a crucial role in the registration process when buying or selling property. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the government receives appropriate revenue from stamp duty.

When a property transaction occurs, the buyer and seller must consider the guideline value to ascertain the applicable stamp duty and registration fees. This ensures compliance with local regulations and helps avoid any legal complications during the transaction.

Frequently asked questions

What is the current guideline value of Agathiar Street?

The current guideline value of Agathiar Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for Agathiar Street?

Agathiar Street is classified under Residential Class III Type - I.

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

The Sub Registrar Office for Agathiar Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties on Agathiar Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 25,00,000 would incur a stamp duty of Rs 1,75,000 at 7%.