Guideline Value for Erukkancherry High Road

Erukkancherry High Road guideline value

The current guideline value of Erukkancherry High Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Sembiam village, under the Sembiam SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Erukkancherry High Road has changed

The guideline value for Erukkancherry High Road has seen several revisions over the years. In 2002, the value was Rs 319 per sq.ft, which increased to Rs 346 per sq.ft in 2003. The value then rose significantly to Rs 700 per sq.ft in 2007, followed by a substantial increase to Rs 4,000 per sq.ft in 2012. However, this value decreased to Rs 2,680 per sq.ft in 2017, before climbing back to Rs 4,000 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 4,400 per sq.ft.

Between these revisions, notable changes include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a remarkable 471% increase from 2007 to 2012, a 102% increase from 2003 to 2007, and an 8% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 1279%.

Guideline values in Sembiam

In Sembiam village, there are 250 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, making the guideline value of Erukkancherry High Road above this median.

• Elumalai Street: Rs 1,900 per sq.ft (2024)
• Elango Street (Ramana Nagar): Rs 1,900 per sq.ft (2024)
• Elango Street (Anbazhagan Nagar): Rs 1,900 per sq.ft (2024)
• Duraisamy Mudali Street: Rs 1,900 per sq.ft (2024)
• Gandhi Street: Rs 1,900 per sq.ft (2024)
• Dhimmasamy Dharga 4th Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Erukkancherry High Road

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that 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 Erukkancherry High Road?

The Sub Registrar Office that covers Erukkancherry High Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sembiam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that all transactions are recorded at a fair value.

When a property is sold, the guideline value serves as a benchmark to assess the transaction price. If the sale price exceeds the guideline value, the higher amount is used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Erukkancherry High Road?

The current guideline value of Erukkancherry High Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 319 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting a total increase of 1279% over the years.

What is the registration office for Erukkancherry High Road?

The registration office for Erukkancherry High Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the stamp duty rates for properties in Erukkancherry High Road?

The stamp duty rate is 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher.

How is the guideline value determined for properties in Sembiam?

The guideline value is determined based on various factors, including land classification and historical price revisions. It serves as a reference point for property transactions in Sembiam.