Guideline Value for Ambedkar Street (Erukkancherry)

Ambedkar Street (Erukkancherry) guideline value

The current guideline value of Ambedkar Street (Erukkancherry) 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 Ambedkar Street (Erukkancherry) has changed

The guideline value for Ambedkar Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 2,000 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,340 per sq.ft, marking a drop of 33%. However, from 2017 to 2023, the value significantly increased to Rs 2,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Ambedkar Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values 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, indicating that Ambedkar Street's 2024 figure of Rs 2,200 per sq.ft is below the median.

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

Stamp duty and registration fee for property in Ambedkar Street (Erukkancherry)

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 to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ambedkar Street (Erukkancherry)?

The Sub Registrar Office that covers Ambedkar Street (Erukkancherry) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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 in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ambedkar Street (Erukkancherry)?

The current guideline value of Ambedkar Street (Erukkancherry) 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 from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Ambedkar Street (Erukkancherry)?

Ambedkar Street (Erukkancherry) is classified as Residential Class IV Type - I.

What is the median guideline value for streets in Erukancherry?

The median guideline value for the 376 streets in Erukancherry is Rs 2,500 per sq.ft, with Ambedkar Street's 2024 figure of Rs 2,200 per sq.ft being below this median.

Where can I find the Sub Registrar Office for Ambedkar Street (Erukkancherry)?

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