Guideline Value for Dream Home

Dream Home guideline value

The current guideline value for Dream Home in Eraiyur village is Rs 350 per sq.ft, effective from 1 July 2024. This property falls under the Sriperumpudur SRO and is classified as Residential Special Type - I.

How the guideline value of Dream Home has changed

Over the years, the guideline value of Dream Home has seen several revisions. In 2012, the value was set at Rs 350 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 234 per sq.ft, marking a 33% drop. However, from 2017 to 2023, the value increased by 50% to reach Rs 350 per sq.ft again. The 2024 revision has maintained this figure, showing no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Thus, the most recent changes have been from 2012, where the value was Rs 350 per sq.ft, to the current value of Rs 350 per sq.ft in 2024, indicating an overall change of 0% during this period.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 471 per sq.ft. The median value among these streets is Rs 200 per sq.ft, placing Dream Home's 2024 guideline value above this median.

• Devi Karumari Nagar: Rs 100 per sq.ft (2024)
• Ezhil Nagar: Rs 250 per sq.ft (2024)
• Ezhil Nagar Extn: Rs 200 per sq.ft (2024)
• Green Hoilday Resorts: Rs 300 per sq.ft (2024)
• Inbambigai Nagar: Rs 200 per sq.ft (2024)
• Isvariyam Avenue: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Dream Home

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total to Rs 31,500. It is important to note that 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 Dream Home?

The Dream Home property is covered by 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 during the registration of property transactions in Eraiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the minimum value recognized by the government for the property.

When buying or selling property, it is essential to consider the guideline value, as it can influence the overall costs involved in the transaction. Buyers should be prepared to pay stamp duty based on this value, which is applicable whether the sale price is higher or lower.

Frequently asked questions

What is the current guideline value of Dream Home?

The current guideline value of Dream Home in Eraiyur village is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft since 2012, with a decrease to Rs 234 per sq.ft in 2017, followed by an increase back to Rs 350 per sq.ft in 2023 and 2024.

What is the stamp duty for a property in Dream Home?

The stamp duty for a property in Dream Home is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 24,500.

Which Sub Registrar Office covers Dream Home?

The Sriperumpudur Sub Registrar Office covers Dream Home, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It serves as a minimum value recognized by the government, influencing the costs involved in buying or selling property.