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Guideline Value

Corporate

Guideline Value for Erikkari 6th Street

₹3850/sq.ft.

The guideline value for Erikkari 6th 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 N/A
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 Erikkari 6th Street

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Erikkari 6th Street guideline value

The current guideline value of Erikkari 6th 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, classified as Residential Class I Type - I.

How the guideline value of Erikkari 6th Street has changed

There are no figures available for Erikkari 6th Street in the revisions of 2002, 2003, 2007, 2012, and 2017. The guideline value for this street was Rs 3,500 per sq.ft in the 2023 revision, which increased by 10% to Rs 3,850 per sq.ft in the 2024 revision.

This change reflects a consistent upward trend in the guideline value, with the most recent revision showing a significant increase. The current rate is higher than the median value of Rs 2,750 per sq.ft for streets in Madipakkam-1.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. Erikkari 6th Street's 2024 figure of Rs 3,850 per sq.ft is above the median value of Rs 2,750 per sq.ft.

Stamp duty and registration fee for property in Erikkari 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value is Rs 38,50,000. The stamp duty at 7% amounts to Rs 2,69,500, and the registration fee at 2% is Rs 77,000, bringing the total to Rs 3,46,500. 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 Erikkari 6th Street?

The Sub Registrar Office covering Erikkari 6th 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall costs involved in the transaction. Buyers and sellers should ensure they reference the current guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Erikkari 6th Street?

The current guideline value of Erikkari 6th Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen an increase from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% rise.

What are the other streets with the same guideline value in Madipakkam-1?

Other streets in Madipakkam-1, such as Erikkari 5th, 7th, 4th, 8th, 3rd, and 9th Streets, also have a guideline value of Rs 3,850 per sq.ft for 2024.

Where can I find the Sub Registrar Office for Erikkari 6th Street?

The Velacheri Sub Registrar Office covers Erikkari 6th Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for property in Erikkari 6th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 38,50,000 incurs a stamp duty of Rs 2,69,500.