Guideline Value for Darma Thottam Erikarai Street

Darma Thottam Erikarai Street guideline value

The current guideline value of Darma Thottam Erikarai Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Darma Thottam Erikarai Street has changed

The guideline value for Darma Thottam Erikarai Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 650 per sq.ft. This increased to Rs 1,500 per sq.ft in 2012, marking a significant rise of 131%. However, the value decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. In 2023, the value was Rs 1,500 per sq.ft, and it has now increased to Rs 1,650 per sq.ft in 2024, reflecting a 10% rise.

From 2007 to 2024, the overall change in the guideline value is an increase of 154%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Darma Thottam Erikarai Street is below this median.

• Darma Thottam 3rd Street: Rs 2,200 per sq.ft (2024)
• Darma Thottam 2nd Street (Bharathidasan Street): Rs 2,530 per sq.ft (2024)
• Darma Thottam 1st Street: Rs 2,530 per sq.ft (2024)
• Darma Thottam: Rs 2,530 per sq.ft (2024)
• Daniel St: Rs 1,650 per sq.ft (2024)
• Devaki Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Darma Thottam Erikarai Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Darma Thottam Erikarai Street?

The Sub Registrar Office that covers Darma Thottam Erikarai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To locate your SRO, you can find your SRO.

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

The guideline value is a critical factor used during the registration of property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it can influence the overall transaction cost. Buyers should ensure that the sale price is not below the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of Darma Thottam Erikarai Street?

The current guideline value of Darma Thottam Erikarai Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 650 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, representing a total increase of 154% over the years.

What is the land classification for Darma Thottam Erikarai Street?

Darma Thottam Erikarai Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Darma Thottam Erikarai Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fees can amount to Rs 1,48,500.