Guideline Value for Erikkarai Salai to Sri Ram Nagar

Erikkarai Salai to Sri Ram Nagar guideline value

The current guideline value of Erikkarai Salai to Sri Ram Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Peerklankaranai village, under the Tambaram Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Erikkarai Salai to Sri Ram Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in the 2017 revision, marking a reduction of 33%. The value then increased significantly to Rs 1,000 per sq.ft in the 2023 revision, and further rose to Rs 1,100 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Comparing the revisions, the guideline value saw a notable increase of 49% from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2023. Overall, from the 2012 figure of Rs 1,000 per sq.ft to the current 2024 figure of Rs 1,100 per sq.ft, there has been an increase of 10% over the twelve-year period.

Guideline values in Peerklankaranai

Peerklankaranai village has a total of 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft in 2024. The median guideline value in this area is Rs 1,650 per sq.ft, placing the 2024 figure for Erikkarai Salai to Sri Ram Nagar below this median.

• Erikkarai Salai, Sri Ram Nagar to Kumaran st: Rs 1,320 per sq.ft (2024)
• Erikkarai Salai, Kumaran St to Mayanam: Rs 1,100 per sq.ft (2024)
• Erikarai Street: Rs 1,320 per sq.ft (2024)
• Elangovan Street: Rs 1,320 per sq.ft (2024)
• Dravupathi Street: Rs 1,100 per sq.ft (2024)
• Gandhi Road: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Erikkarai Salai to Sri Ram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, while the registration fee at 2% would be Rs 22,000, bringing the total cost to Rs 99,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Erikkarai Salai to Sri Ram Nagar?

The Sub Registrar Office that covers Erikkarai Salai to Sri Ram Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Peerklankaranai. It is used to determine the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value must be considered as it affects the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact the total expenses involved in the purchase.

Frequently asked questions

What is the current guideline value for Erikkarai Salai to Sri Ram Nagar?

The current guideline value for Erikkarai Salai to Sri Ram Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the median guideline value in Peerklankaranai?

The median guideline value in Peerklankaranai is Rs 1,650 per sq.ft, which is higher than the current value for Erikkarai Salai to Sri Ram Nagar.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a plot of 1,000 sq.ft, the total cost would be Rs 99,000.

Which office handles property registrations for this area?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Erikkarai Salai to Sri Ram Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.