Guideline Value for Erikkarai Salai, Kumaran St to Mayanam

Erikkarai Salai, Kumaran St to Mayanam guideline value

The current guideline value for Erikkarai Salai, Kumaran St to Mayanam is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO, classified as Residential Class II Type - I.

How the guideline value of Erikkarai Salai, Kumaran St to Mayanam has changed

The guideline value for this street has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from the 2024 revision. Notably, the register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but the value increased by 49% from 2017 to 2023. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median value is Rs 1,650 per sq.ft, indicating that the guideline value for Erikkarai Salai, Kumaran St to Mayanam is below this median.

• Erikkarai Salai, Sri Ram Nagar to Kumaran st: Rs 1,320 per sq.ft (2024)
• Erikkarai Salai to Sri Ram Nagar: 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, Kumaran St to Mayanam

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, and the registration fee at 2% would be Rs 22,000, bringing the total charges 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 more details.

Which Sub Registrar Office covers Erikkarai Salai, Kumaran St to Mayanam?

The Sub Registrar Office that covers Erikkarai Salai, Kumaran St to Mayanam 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 is a crucial factor when registering property transactions in Peerklankaranai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value for Erikkarai Salai, Kumaran St to Mayanam?

The current guideline value for Erikkarai Salai, Kumaran St to Mayanam 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 2023 to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase. It was Rs 670 per sq.ft in 2017 and Rs 1,000 per sq.ft in 2012.

What is the land classification for this area?

Erikkarai Salai, Kumaran St to Mayanam is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for this property?

The registration office for Erikkarai Salai, Kumaran St to Mayanam is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What are the stamp duty and registration fees based on the guideline value?

For a plot of 1,000 sq.ft at the guideline value of Rs 1,100 per sq.ft, the total guideline value is Rs 11,00,000. The stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.