Guideline Value for Earikari Street

Earikari Street guideline value

The current guideline value of Earikari Street in Noombal village, under the Kunrathur SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Earikari Street has changed

The guideline value of Earikari Street has undergone several revisions over the years. In 2003, the guideline value was Rs 141 per sq.ft. This figure saw a significant increase to Rs 1,072 per sq.ft in 2017, marking a change of +660%. The next revision in 2023 set the value at Rs 1,600 per sq.ft, which was a +49% increase from the previous figure. The most recent revision in 2024 raised the guideline value to Rs 1,760 per sq.ft, reflecting a +10% change from 2023. The register has no figure for this street in the years 2002, 2007, and 2012.

Overall, from 2003 to 2024, the guideline value has increased by +1148%, showcasing a substantial rise in the value of properties on Earikari Street over the years.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which means Earikari Street's 2024 figure is below that median.

• Drowpathi Amman Koil Street: Rs 1,760 per sq.ft (2024)
• Dhanalakshmi Enclave: Rs 4,290 per sq.ft (2024)
• Devi Karumariyamman Nagar: Rs 1,980 per sq.ft (2024)
• Crystal Garden Phase I: Rs 1,760 per sq.ft (2024)
• Chettiyar Agaram Salai: Rs 2,090 per sq.ft (2024)
• Chellammal Nagar: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Earikari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total cost for these fees Rs 1,58,400. 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 Earikari Street?

The Sub Registrar Office that covers Earikari Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Noombal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both buyers and sellers must consider the guideline value as it can influence negotiations and the final sale price. It is essential for all parties involved to be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Earikari Street?

The current guideline value of Earikari Street is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 141 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, which is an overall increase of +1148%.

What is the land classification for Earikari Street?

Earikari Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Earikari Street?

The Sub Registrar Office for Earikari Street is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Noombal?

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 the current guideline value, the stamp duty would be 7% of that value.