Guideline Value for ERNEESWARAN KOIL STREET

Erneeswaran Koil Street guideline value

The current guideline value of Erneeswaran Koil Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Ernavur village, under the Thiruvottiyur SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Erneeswaran Koil Street has changed

The guideline value for Erneeswaran Koil Street has undergone several revisions over the years. In 2007, the guideline value was Rs 350 per sq.ft, which increased significantly to Rs 1,300 per sq.ft by 2012. However, the value then dropped to Rs 871 per sq.ft in 2017, before rising again to Rs 1,300 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 1,400 per sq.ft, marking an 8% increase from the previous year.

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

Guideline values in Ernavur

In Ernavur, there are 82 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 7,300 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Erneeswaran Koil Street is below this median.

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

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

Which Sub Registrar Office covers Erneeswaran Koil Street?

The Sub Registrar Office that covers Erneeswaran Koil Street is 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 when registering property transactions in Ernavur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Erneeswaran Koil Street?

The current guideline value of Erneeswaran Koil Street 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 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 Erneeswaran Koil Street?

Erneeswaran Koil Street falls under the Residential Class I Type - III land classification.

What are the stamp duty rates for property transactions in Ernavur?

The stamp duty for property transactions in Ernavur is typically charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Erneeswaran Koil Street?

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