Guideline Value for ERUKKANCHERI LANE

Erukkancheri Lane guideline value

The current guideline value of Erukkancheri Lane is Rs 6,500 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and is classified as Commercial Special Type - I.

How the guideline value of Erukkancheri Lane has changed

The guideline value for Erukkancheri Lane has seen several revisions over the years. The earliest figure available is from 2012, which was Rs 6,000 per sq.ft. This value then decreased to Rs 4,020 per sq.ft in 2017. Following this, the value increased to Rs 6,000 per sq.ft in 2023, and finally rose to Rs 6,500 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, positioning Erukkancheri Lane's 2024 figure above this median.

• Erukkanchery High Road (From Market To Sharma Nagar): Rs 6,500 per sq.ft (2024)
• Erukkanchery Road & Lane: Rs 6,500 per sq.ft (2024)
• Erukkanchery Sidco Area: Rs 6,600 per sq.ft (2024)
• Engineer Shankaran Street: Rs 4,900 per sq.ft (2024)
• Engineer Sambandam Street: Rs 4,300 per sq.ft (2024)
• Elegen Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Erukkancheri Lane

For a 1,000 sq.ft plot at the current rate of Rs 6,500 per sq.ft, the guideline value amounts to Rs 65,00,000. The stamp duty at 7% would be Rs 4,55,000, and the registration fee at 2% would be Rs 1,30,000, making the total Rs 5,85,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Erukkancheri Lane?

Erukkancheri Lane falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is crucial during the registration of property transactions in Perambur. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Erukkancheri Lane?

The current guideline value of Erukkancheri Lane is Rs 6,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,000 per sq.ft in 2012 to Rs 4,020 per sq.ft in 2017, then to Rs 6,000 per sq.ft in 2023, and finally to Rs 6,500 per sq.ft in 2024.

What is the land classification for Erukkancheri Lane?

Erukkancheri Lane is classified as Commercial Special Type - I, which indicates its suitability for commercial activities.

How is stamp duty calculated for properties in Erukkancheri Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 65,00,000 would incur a stamp duty of Rs 4,55,000.

Where can I find the Sub Registrar Office for Erukkancheri Lane?

The Purasaivakkam Sub Registrar Office, which covers Erukkancheri Lane, is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.