Guideline Value for Eratai Malai Srinivasan Street

Eratai Malai Srinivasan Street guideline value

The current guideline value of Eratai Malai Srinivasan Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Eratai Malai Srinivasan Street has changed

The guideline value for Eratai Malai Srinivasan Street has seen significant changes over the years. Starting from Rs 174 per sq.ft in 2002, it increased to Rs 197 per sq.ft in 2003, marking a 13% rise. The value then jumped to Rs 360 per sq.ft in 2007, reflecting an 83% increase. By 2017, the guideline value reached Rs 1,206 per sq.ft, which was a substantial increase of 235% compared to 2007. The next revision in 2023 saw the value rise to Rs 1,800 per sq.ft, a 49% increase from 2017.

The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, indicating a 10% increase from the previous year. Notably, there is no figure available for the year 2012 in the register for this street.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as per the 2024 revision. The median guideline value in the village is Rs 2,090 per sq.ft, placing Eratai Malai Srinivasan Street's 2024 figure below this median.

• Ennaiyeram Street (Samnudeswari Nagar): Rs 1,980 per sq.ft (2024)
• Erattai Pillayar Koil Street: Rs 2,200 per sq.ft (2024)
• Elumalai Street (Thiruvallur Nagar): Rs 2,475 per sq.ft (2024)
• Elumalai Street (Thiruneermalai Salai): Rs 1,980 per sq.ft (2024)
• Elumalai Street, Moovendhar Nagar: Rs 1,980 per sq.ft (2024)
• Elumalai Cross Street, Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Eratai Malai Srinivasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty, charged at 7%, would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Thus, the total cost for stamp duty and registration would be Rs 1,78,200. It is important to note that 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 Eratai Malai Srinivasan Street?

The Sub Registrar Office covering Eratai Malai Srinivasan Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions within Pammal. When buying or selling property, the guideline value serves as a benchmark for determining the applicable stamp duty and registration fees. It is essential to ensure that the sale price is either equal to or greater than the guideline value to comply with legal requirements.

At the time of registration, the property value is assessed based on the guideline value, which helps in calculating the necessary fees. This ensures transparency and standardization in property transactions, making it easier for buyers and sellers to navigate the process.

Frequently asked questions

What is the current guideline value of Eratai Malai Srinivasan Street?

The current guideline value of Eratai Malai Srinivasan Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 174 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, showing an overall increase of 1038% over the years.

What is the median guideline value in Pammal village?

The median guideline value in Pammal village is Rs 2,090 per sq.ft as per the 2024 revision, which is higher than the guideline value of Eratai Malai Srinivasan Street.

What are the stamp duty and registration fees for property in Eratai Malai Srinivasan Street?

The stamp duty for a property valued at Rs 19,80,000 would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200.

Which office handles the registration for Eratai Malai Srinivasan Street?

The Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, handles the registration for Eratai Malai Srinivasan Street.