Guideline Value for E.R. Nagar

E.R. Nagar guideline value

The current guideline value of E.R. Nagar, located in Kuthanoor village under the Gooduvancheri SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of E.R. Nagar has changed

The guideline value for E.R. Nagar has undergone several revisions over the years. In 2007, the value was Rs 85 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a substantial rise of 724%. However, from 2012 to 2017, the guideline value decreased by 33% to Rs 469 per sq.ft. In the subsequent revisions, the value remained at Rs 700 per sq.ft in both 2023 and 2024, indicating no change during this period. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, bringing it back to Rs 700 per sq.ft. Overall, from 2007 to 2024, the guideline value has increased by 724%, reflecting significant changes over the years.

Guideline values in Kuthanoor

Kuthanoor village has a range of guideline values across its 30 streets under the Gooduvancheri SRO, with figures for 2024 ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 800 per sq.ft, positioning E.R. Nagar's value below this median.

• Gks Avenue: Rs 1,000 per sq.ft (2024)
• Gks Avenue Phase- I: Rs 1,200 per sq.ft (2024)
• Gks Avenue Phase - II: Rs 1,200 per sq.ft (2024)
• Chitti Vinayagar Nagar: Rs 400 per sq.ft (2024)
• G.R. Nagar: Rs 800 per sq.ft (2024)
• Bharath Avenue: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in E.R. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers E.R. Nagar?

The Sub Registrar Office that covers E.R. Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kuthanoor. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects appropriate stamp duty and registration fees based on this value.

When a property transaction occurs, the guideline value helps in calculating the applicable charges. Buyers and sellers must be aware of this value to avoid any discrepancies during registration, as it directly impacts the financial aspects of the property transaction.

Frequently asked questions

What is the current guideline value of E.R. Nagar?

The current guideline value of E.R. Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, with the value increasing from Rs 85 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreasing to Rs 469 per sq.ft in 2017, and returning to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification of E.R. Nagar?

E.R. Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in E.R. Nagar?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 63,000.

Which Sub Registrar Office covers E.R. Nagar?

The Gooduvancheri Sub Registrar Office covers E.R. Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.