Guideline Value for ERUKKANCHERY HIGH ROAD (FROM MARKET TO SHARMA NAGAR)

Erukkanchery High Road (From Market To Sharma Nagar) guideline value

The current guideline value of Erukkanchery High Road (From Market To Sharma Nagar) is Rs 6,500 per sq.ft. This road is located in Perambur village, under the Purasaivakkam SRO, and is classified as Commercial Special Type - I.

How the guideline value of Erukkanchery High Road (From Market To Sharma Nagar) has changed

The guideline value for Erukkanchery High Road has seen several revisions over the years. In 2002, the value was Rs 435 per sq.ft, which increased to Rs 477 per sq.ft in 2003, marking a 10% rise. By 2007, the value experienced a significant jump to Rs 1,250 per sq.ft, reflecting a 162% increase. The value then rose to Rs 6,000 per sq.ft in 2012, a 380% increase from 2007. However, it dropped to Rs 4,020 per sq.ft in 2017, indicating a decrease of 33%.

In 2023, the guideline value was set at Rs 6,000 per sq.ft, and it was revised to Rs 6,500 per sq.ft in 2024, showing an increase of 8%. Overall, from 2002 to 2024, the guideline value has increased by 1394%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Perambur

In Perambur, the guideline values range from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Erukkanchery High Road (From Market To Sharma Nagar) is above this median.

• Erukkanchery Road & Lane: Rs 6,500 per sq.ft (2024)
• Erukkancheri 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 Erukkanchery High Road (From Market To Sharma Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,500 per sq.ft, the total guideline value would be Rs 65,00,000. The stamp duty at 7% would amount to Rs 4,55,000, while the registration fee at 2% would be Rs 1,30,000. Together, the total cost for stamp duty and registration fee would be 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Erukkanchery High Road (From Market To Sharma Nagar)?

The Sub Registrar Office that covers Erukkanchery High Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Erukkanchery High Road?

The current guideline value of Erukkanchery High Road (From Market To Sharma Nagar) is Rs 6,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 435 per sq.ft to Rs 6,500 per sq.ft in 2024, which is an overall increase of 1394%.

What is the land classification for Erukkanchery High Road?

Erukkanchery High Road is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Erukkanchery High Road?

The Sub Registrar Office for Erukkanchery High Road is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 6,500 per sq.ft, the total guideline value would be Rs 65,00,000, leading to specific fees based on that value.