Guideline Value for ERIKARAI SALAI

Erikarai Salai guideline value

The current guideline value of Erikarai Salai is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of Erikarai Salai has changed

The guideline value of Erikarai Salai has seen significant changes over the years. In the 2017 revision, the value was Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, reflecting a 13% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 69%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 2,200 per sq.ft, making the guideline value of Erikarai Salai below this median.

• Eraikudi Street (Grama Nedunchalai 32nd Cross Street): Rs 2,200 per sq.ft (2024)
• Em.Perumal Street: Rs 1,700 per sq.ft (2024)
• Emarld Garden: Rs 2,200 per sq.ft (2024)
• Eswaran Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Eswaran Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Eswaran Koil Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Erikarai Salai

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Erikarai Salai?

The Sub Registrar Office that covers Erikarai Salai is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in property transactions in Sholinganallur - 1. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling a property. This ensures that the government receives the appropriate revenue from property transactions in the area.

When registering a property, the guideline value is considered to ensure that the transaction is recorded at a fair value. Buyers and sellers should be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Erikarai Salai?

The current guideline value of Erikarai Salai is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,700 per sq.ft in 2024, which is a total increase of 69%. The value rose by 49% from 2017 to 2023 and by 13% from 2023 to 2024.

What is the land classification of Erikarai Salai?

Erikarai Salai is classified as Residential Class IV Type - I under the Neelankarai SRO.

What is the median guideline value in Sholinganallur - 1?

The median guideline value in Sholinganallur - 1 is Rs 2,200 per sq.ft, which means that the guideline value of Erikarai Salai is below this median.

Where can I find the Sub Registrar Office for Erikarai Salai?

The Sub Registrar Office for Erikarai Salai is located at Neelankarai Sub Registrar Office, 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.