Guideline Value for ERATTAI MALAI SRINIVASAN STREET

Erattai Malai Srinivasan Street guideline value

The current guideline value for Erattai Malai Srinivasan Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Erattai Malai Srinivasan Street has changed

Over the years, the guideline value of Erattai Malai Srinivasan Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rose significantly to Rs 2,500 per sq.ft in 2023, and then further increased to Rs 2,750 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change is an increase of 10%. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median guideline value in the village is Rs 3,300 per sq.ft, placing Erattai Malai Srinivasan Street's 2024 figure below this median.

• Erikarai Ora Street: Rs 3,300 per sq.ft (2024)
• English Electricl Nagar: Rs 3,300 per sq.ft (2024)
• Erikarai Street: Rs 2,750 per sq.ft (2024)
• Emanuvel Street: Rs 3,520 per sq.ft (2024)
• Elumalai Street: Rs 3,520 per sq.ft (2024)
• Elumalai Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Erattai Malai Srinivasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Erattai Malai Srinivasan Street?

The Sub Registrar Office that covers Erattai Malai Srinivasan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property 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 be aware of the current guideline value, as it can affect the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value for Erattai Malai Srinivasan Street?

The current guideline value for Erattai Malai Srinivasan Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Erattai Malai Srinivasan Street?

Erattai Malai Srinivasan Street is classified as Residential Class II Type - I.

Which Sub Registrar Office is responsible for this street?

The Pallavaram Sub Registrar Office is responsible for Erattai Malai Srinivasan Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 1,92,500.