Guideline Value

Corporate

Guideline Value for Erikkari 8th Street

₹3850/sq.ft.

The guideline value for Erikkari 8th 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 8th Street

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Erikkari 8th Street guideline value

The current guideline value of Erikkari 8th 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 8th Street has changed

The guideline value for Erikkari 8th Street has undergone several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. However, in the 2023 revision, the guideline value was set at Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in the 2024 revision, marking a change of +10%.

Prior to the 2023 revision, there were no recorded figures for the street in the earlier years mentioned. The 2024 figure of Rs 3,850 per sq.ft is the most current and reflects the latest valuation for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for the area is Rs 2,750 per sq.ft, placing Erikkari 8th Street above this median.

Stamp duty and registration fee for property in Erikkari 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, leading to a total of Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Erikkari 8th Street?

The Sub Registrar Office that covers Erikkari 8th 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 plays a crucial role in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Erikkari 8th Street?

The current guideline value of Erikkari 8th 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 for Erikkari 8th Street has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, which is a +10% increase. There are no recorded figures for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1, such as Erikkari 7th, 9th, 6th, 5th, 4th, and 3rd Streets, all have a guideline value of Rs 3,850 per sq.ft as of 2024. This places them at the same value as Erikkari 8th Street.

What are the stamp duty and registration fees for properties in Erikkari 8th Street?

For a property with a guideline value of Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, leading to a total of Rs 3,46,500. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations for Erikkari 8th Street?

The Velacheri Sub Registrar Office handles property registrations for Erikkari 8th Street. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.