Guideline Value for ERNAVOOR GATE ROAD

Ernavoor Gate Road guideline value

The current guideline value of Ernavoor Gate Road is Rs 1,400 per sq.ft, effective from 1 July 2024. This road is located in Ernavur village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Ernavoor Gate Road has changed

The guideline value for Ernavoor Gate Road has seen several revisions over the years. In 2007, the value was Rs 350 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012, marking a rise of 271%. However, it decreased to Rs 871 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 1,300 per sq.ft in 2023, followed by a further increase to Rs 1,400 per sq.ft in 2024, reflecting an 8% change.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 7,300 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, indicating that the guideline value of Ernavoor Gate Road is below this median.

• Ernavoor High Road (Kathivakkam High Road): Rs 1,900 per sq.ft (2024)
• Ernavoor Kuppam: Rs 1,400 per sq.ft (2024)
• Ernavoor Pattai: Rs 1,400 per sq.ft (2024)
• Erneeswaran Koil Street: Rs 1,400 per sq.ft (2024)
• Ellaiamman Koil Street: Rs 1,400 per sq.ft (2024)
• Gandhi Nagar (Ernavoor): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ernavoor Gate Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total cost to Rs 1,26,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ernavoor Gate Road?

The Ernavoor Gate Road falls under the jurisdiction of the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees applicable during the transaction.

It is essential for buyers and sellers to be aware of the current guideline value, as it can significantly impact the overall costs involved in property transactions in Ernavoor.

Frequently asked questions

What is the current guideline value of Ernavoor Gate Road?

The current guideline value of Ernavoor Gate Road is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 350 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification for Ernavoor Gate Road?

Ernavoor Gate Road is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Thiruvottiyur Sub Registrar Office?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Ernavoor?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 14,00,000, the stamp duty at 7% would be Rs 98,000.