Guideline Value for Erular Colony

Erular Colony guideline value

The current guideline value of Erular Colony, located in Arani village under the Arani_Tiruvallur SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

How the guideline value of Erular Colony has changed

Since the year 2003, the guideline value for Erular Colony has seen significant changes. In 2003, the value was Rs 34 per sq.ft, which increased to Rs 100 per sq.ft in 2007. The value then rose dramatically to Rs 300 per sq.ft in 2012, maintaining the same figure until the 2017 revision, which saw a decrease to Rs 201 per sq.ft. Following this, the value increased again to Rs 300 per sq.ft in 2023, and it remains at this figure for the 2024 revision, reflecting no change from the previous year.

Overall, from 2003 to 2024, there has been a remarkable increase of 782% in the guideline value. The revisions for the years 2002 do not have a recorded figure for this street in the register.

Guideline values in Arani

In Arani village, there are 51 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 600 per sq.ft, with the median value being Rs 300 per sq.ft. The guideline value for Erular Colony is equal to this median.

• Dhasthagiri Sahib Street: Rs 400 per sq.ft (2024)
• Gattu Namasivayam Street: Rs 500 per sq.ft (2024)
• Gattu Street: Rs 300 per sq.ft (2024)
• Gokulam Avenue: Rs 335 per sq.ft (2024)
• Green Garden: Rs 200 per sq.ft (2024)
• Hariprasad Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Erular Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total cost for these fees to Rs 27,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Erular Colony?

The Sub Registrar Office that covers Erular Colony is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in property transactions in Arani, as it determines the minimum value at which a property can be registered. When purchasing or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an officially recognized value.

It is crucial for buyers and sellers to be aware of the guideline value, as it directly affects the financial aspects of property transactions. Proper understanding of this value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Erular Colony?

The current guideline value of Erular Colony is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 34 per sq.ft in 2003 to Rs 300 per sq.ft in 2024, reflecting an overall increase of 782% over this period.

What are the stamp duty and registration fees for a property in Erular Colony?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which Sub Registrar Office covers Erular Colony?

The Arani_Tiruvallur Sub Registrar Office covers Erular Colony, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.

What is the land classification of Erular Colony?

Erular Colony is classified as Residential Class II Type - III, indicating its designation for residential development within the area.