Guideline Value for Earikarai Street

Earikarai Street guideline value

The current guideline value of Earikarai Street is Rs 1,500 per sq.ft, as per the 2023 revision. This street is located in Vandalur village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Earikarai Street has changed

Earikarai Street has seen several revisions in its guideline value over the years. The 2007 revision set the value at Rs 550 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, this value remained unchanged in 2012 until the 2017 revision, where it dropped to Rs 1,005 per sq.ft, marking a decrease of 33%. In the latest 2023 revision, the guideline value rose to Rs 1,500 per sq.ft, reflecting an increase of 49% from 2017.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 173%. It is important to note that there are no figures available for the years 2002, 2003, and 2024 for this street.

Guideline values in Vandalur

Currently, there are no specific village figures available for Vandalur. Earikarai Street's guideline value is Rs 1,500 per sq.ft, and it is important to understand how this compares to other streets in Vandalur. Unfortunately, there are no other streets in Vandalur provided under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Earikarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty, charged at 7%, would be Rs 1,05,000, while the registration fee at 2% would be Rs 30,000. Together, the total cost for stamp duty and registration fee would be Rs 1,35,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Earikarai Street?

The Sub Registrar Office that covers Earikarai Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vandalur. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees. Buyers and sellers must be aware that the guideline value can directly impact the overall costs associated with property transactions.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Earikarai Street?

The current guideline value of Earikarai Street is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 550 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and finally increased back to Rs 1,500 per sq.ft in 2023.

What is the land classification for Earikarai Street?

The land classification for Earikarai Street is Residential Special Type - I.

What are the stamp duty and registration fees for a property on Earikarai Street?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Which office handles the registration for Earikarai Street?

The Gooduvancheri Sub Registrar Office handles the registration for Earikarai Street, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.