Guideline Value for Erukancherry High Road

Erukancherry High Road guideline value

The current guideline value of Erukancherry High Road is Rs 3,800 per sq.ft, effective from 1 July 2024. This road is located in Erukancherry village, under the Madhavaram SRO, and is classified as Commercial Special Type - I.

How the guideline value of Erukancherry High Road has changed

The guideline value for Erukancherry High Road has undergone several revisions over the years. The earliest figure available is from the 2012 revision, which was Rs 3,500 per sq.ft. This was followed by a decrease in the 2017 revision to Rs 2,345 per sq.ft. However, from 2017 to 2023, there was a significant increase to Rs 3,500 per sq.ft, and the most recent revision in 2024 saw it rise further to Rs 3,800 per sq.ft, marking a 9% increase from the previous year.

Between the revisions, the guideline value changed as follows: from 2012 to 2017, it decreased by 33%; from 2017 to 2023, it increased by 49%; and overall, from 2012 to 2024, it has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of Erukancherry High Road is above this median.

• Eswaran Koil Street: Rs 2,500 per sq.ft (2024)
• Eswari Nagar: Rs 2,500 per sq.ft (2024)
• Ethiraj Salai Pachaiappan Layout: Rs 2,500 per sq.ft (2024)
• Ethirajsamy Street: Rs 3,000 per sq.ft (2024)
• Ethiraj Swami Sanathi Street: Rs 3,000 per sq.ft (2024)
• Ethiraj Swamy Road: Rs 3,000 per sq.ft (2024)

Stamp duty and registration fee for property in Erukancherry High Road

For a 1,000 sq.ft plot at the current rate of Rs 3,800 per sq.ft, the guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Erukancherry High Road?

The Sub Registrar Office that covers Erukancherry High Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erukancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is assessed to ensure that the transaction reflects a fair value for taxation purposes. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Erukancherry High Road?

The current guideline value of Erukancherry High Road is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,800 per sq.ft in 2024, marking a 9% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification of Erukancherry High Road?

Erukancherry High Road is classified as Commercial Special Type - I under the current guidelines.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Erukancherry?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 at 7%.