Guideline Value for Emarald Apartments

Emarald Apartments guideline value

The current guideline value of Emarald Apartments in Perungalathur village is Rs 2,640 per sq.ft, effective from 1 July 2024. This property falls under the Padappai Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Emarald Apartments has changed

The guideline value for Emarald Apartments has undergone several revisions over the years. In 2012, the guideline value was Rs 2,400 per sq.ft. This figure decreased to Rs 1,608 per sq.ft in 2017, reflecting a drop of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 2,400 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 2,640 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO, with guideline values ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,310 per sq.ft, placing Emarald Apartments' 2024 guideline value above this median.

• Erikkarai Theru: Rs 1,650 per sq.ft (2024)
• Elango Theru: Rs 1,980 per sq.ft (2024)
• Ethirasan Street: Rs 1,650 per sq.ft (2024)
• Ebinezar Nagar: Rs 1,650 per sq.ft (2024)
• EB Colony: Rs 2,640 per sq.ft (2024)
• Durga Theru: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Emarald Apartments

For a 1,000 sq.ft plot at the current guideline value of Rs 2,640 per sq.ft, the total guideline value would be Rs 26,40,000. The stamp duty at 7% would amount to Rs 1,84,800, and the registration fee at 2% would be Rs 52,800, bringing the total fees together to Rs 2,37,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Emarald Apartments?

The Sub Registrar Office that covers Emarald Apartments is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process of property transactions in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these fees are based on the guideline value or the sale price, whichever is higher, to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Emarald Apartments?

The current guideline value of Emarald Apartments is Rs 2,640 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,400 per sq.ft in 2012 to Rs 1,608 per sq.ft in 2017, then to Rs 2,400 per sq.ft in 2023, and finally to Rs 2,640 per sq.ft in 2024.

What is the land classification for Emarald Apartments?

Emarald Apartments is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where can I find the registration office for Emarald Apartments?

The registration office for Emarald Apartments is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 2,37,600.