Guideline Value for ERIKKARAI ROAD (LAKE VIEW ROAD)

Erikkarai Road (Lake View Road) guideline value

The current guideline value of Erikkarai Road (Lake View Road) is Rs 8,200 per sq.ft, effective from 1 July 2024. This road is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Erikkarai Road (Lake View Road) has changed

The guideline value for Erikkarai Road (Lake View Road) has seen several revisions over the years. In 2007, the guideline value was Rs 2,100 per sq.ft, which increased significantly to Rs 7,500 per sq.ft in 2012. However, it then decreased to Rs 5,025 per sq.ft in 2017. The value rose again to Rs 7,500 per sq.ft in 2023, and most recently, it has been revised to Rs 8,200 per sq.ft in 2024. The register has no figure for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the jump from 2023 to 2024 was 9%. Notably, from 2007 to 2012, there was a remarkable increase of 257%, but this was followed by a decrease of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 290%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value. The values range from Rs 3,300 to Rs 14,300 per sq.ft, with a median of Rs 5,800 per sq.ft. Erikkarai Road (Lake View Road) has a guideline value above this median.

• Ethiraju Street: Rs 4,400 per sq.ft (2024)
• Elango Adigal Street: Rs 5,000 per sq.ft (2024)
• Elangaliamman Koil Street: Rs 7,100 per sq.ft (2024)
• Easwara Nagar 5th Street: Rs 4,600 per sq.ft (2024)
• Easwara Nagar 4th Street: Rs 4,600 per sq.ft (2024)
• Easwara Nagar 3rd Street: Rs 6,300 per sq.ft (2024)

Stamp duty and registration fee for property in Erikkarai Road (Lake View Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total fees together to Rs 7,38,000. 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 precise calculations.

Which Sub Registrar Office covers Erikkarai Road (Lake View Road)?

The Sub Registrar Office that covers Erikkarai Road (Lake View Road) is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property being transacted. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair amount in terms of registration fees and stamp duty.

Frequently asked questions

What is the current guideline value of Erikkarai Road (Lake View Road)?

The current guideline value of Erikkarai Road (Lake View Road) is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2007 to Rs 8,200 per sq.ft in 2024, reflecting an overall increase of 290% over the years.

What is the land classification for Erikkarai Road (Lake View Road)?

Erikkarai Road (Lake View Road) is classified as Residential Special Type - I.

Where can I find the Sub Registrar Office for Erikkarai Road (Lake View Road)?

The Sub Registrar Office for Erikkarai Road (Lake View Road) is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties on Erikkarai Road (Lake View Road)?

Stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. The total fees are based on the higher of the guideline value or the sale price.