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Guideline Value

Corporate

Guideline Value for Erikarai Street/Karthikeyapuram 1st Street

₹3850/sq.ft.

The guideline value for Erikarai Street/karthikeyapuram 1st Street in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Erikarai Street/karthikeyapuram 1st Street

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Erikarai Street/Karthikeyapuram 1st Street guideline value

The current guideline value of Erikarai Street/Karthikeyapuram 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Erikarai Street/Karthikeyapuram 1st Street has changed

The guideline value for Erikarai Street/Karthikeyapuram 1st Street has seen several revisions over the years. The 2017 revision set the guideline value at Rs 2,345 per sq.ft. This was followed by a significant increase to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% increase from the 2017 figure. The current 2024 revision has further increased the guideline value to Rs 3,850 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for this street in 2002, 2003, 2007, and 2012.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Erikarai Street/Karthikeyapuram 1st Street is above this median.

Stamp duty and registration fee for property in Erikarai Street/Karthikeyapuram 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that 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 Erikarai Street/Karthikeyapuram 1st Street?

The Sub Registrar Office that covers Erikarai Street/Karthikeyapuram 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is sold or purchased, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Erikarai Street/Karthikeyapuram 1st Street?

The current guideline value of Erikarai Street/Karthikeyapuram 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, which is an overall increase of 64%.

What is the stamp duty on property in Erikarai Street/Karthikeyapuram 1st Street?

The stamp duty on property in Erikarai Street/Karthikeyapuram 1st Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Erikarai Street/Karthikeyapuram 1st Street?

The Sub Registrar Office for Erikarai Street/Karthikeyapuram 1st Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, with Erikarai Street/Karthikeyapuram 1st Street's value being above this median.