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 Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Erattaimalai Srinivasan Street has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 1,200 per sq.ft. However, in the latest 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

There are no figures available for the years 2002, 2003, 2007, and 2017 for Erattaimalai Srinivasan Street. Overall, from the 2012 revision to the 2024 revision, there has been an 8% increase in the guideline value.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this village is Rs 2,400 per sq.ft, which means that Erattaimalai Srinivasan Street's 2024 figure is below that median.

• Esthar Garden 1st Cross Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 1st Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 2nd Cross Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 2nd Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 3rd Cross street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 3rd Street: Rs 1,900 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 rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor in property transactions in Madambakkam, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to assess the applicable stamp duty and registration fees.

It is important for buyers and sellers to be aware of the guideline value, as it ensures that the property is registered at a fair price. This helps in maintaining transparency in real estate transactions and aids in the effective collection of government revenue.

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?

From the 2012 revision to the 2024 revision, the guideline value increased from Rs 1,200 per sq.ft to Rs 1,300 per sq.ft. The 2023 revision saw no change from the 2012 figure.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for these fees would be Rs 1,17,000.

Which office handles property registrations for Erattaimalai Srinivasan Street?

The Selaiyur Sub Registrar Office handles property registrations for Erattaimalai Srinivasan Street. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft, which is higher than the current guideline value of Erattaimalai Srinivasan Street.