Guideline Value for Erattaimalai Srinivasan Street

Erattaimalai Srinivasan Street guideline value

The current guideline value of Erattaimalai Srinivasan Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Kathirvedu village under the Ambattur SRO, classified as Residential Class III Type - II.

How the guideline value of Erattaimalai Srinivasan Street has changed

The guideline value for Erattaimalai Srinivasan Street has seen several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a 500% rise. However, it then decreased to Rs 804 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision, reflecting an 8% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 550%.

Guideline values in Kathirvedu

Kathirvedu has a total of 78 streets under the Ambattur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in the village is Rs 1,500 per sq.ft, making the current value of Erattaimalai Srinivasan Street below this median.

• Essaiya Street: Rs 1,100 per sq.ft (2024)
• Elumalai Nagar: Rs 1,300 per sq.ft (2024)
• Ganabathy Nagar (or) Golden Nagar: Rs 1,500 per sq.ft (2024)
• Gandhi Street: Rs 1,100 per sq.ft (2024)
• Co-Operative Nagar (Government Co-Op Nagar): Rs 1,900 per sq.ft (2024)
• Green View (Tamil Nadu Officiers Co-Operative Housing Society): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Erattaimalai Srinivasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, making the total fees together Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Erattaimalai Srinivasan Street?

The Sub Registrar Office that covers Erattaimalai Srinivasan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kathirvedu. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value serves as a reference point for the government to assess the value of the property. This ensures that the correct fees are collected during the registration process, providing transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Erattaimalai Srinivasan Street?

The current guideline value of Erattaimalai Srinivasan Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 550% over the years.

What is the stamp duty rate for properties in Kathirvedu?

The stamp duty rate for properties in Kathirvedu is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Erattaimalai Srinivasan Street?

The Sub Registrar Office for Erattaimalai Srinivasan Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the other streets in Kathirvedu with their guideline values?

Other streets in Kathirvedu include Essaiya Street at Rs 1,100 per sq.ft, Elumalai Nagar at Rs 1,300 per sq.ft, Ganabathy Nagar (or) Golden Nagar at Rs 1,500 per sq.ft, Gandhi Street at Rs 1,100 per sq.ft, Co-Operative Nagar at Rs 1,900 per sq.ft, and Green View at Rs 1,600 per sq.ft.