Guideline Value for Erular Colony

Erular Colony guideline value

The current guideline value of Erular Colony is Rs 803 per sq.ft, effective from 1 July 2024. This area is located in 44.Ayanambakkam village, under the Konnur SRO, and is classified as Residential Class V Type - I.

How the guideline value of Erular Colony has changed

The guideline value for Erular Colony has undergone several revisions over the years. The 2017 revision set the value at Rs 402 per sq.ft, which remained unchanged until the 2023 revision, where it was raised to Rs 803 per sq.ft. The 2024 revision also maintains this figure at Rs 803 per sq.ft, indicating no change from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 100%. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are 157 streets under the Konnur SRO that carry a 2024 guideline value, ranging from Rs 801 to Rs 9,702 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, placing Erular Colony's 2024 guideline value below this median.

• Eswaran Nagar: Rs 1,100 per sq.ft (2024)
• Ettiswarankovil Street: Rs 1,100 per sq.ft (2024)
• Ettiswarankovil Street 1 St: Rs 1,100 per sq.ft (2024)
• Ettiswarankovil Street 2 St: Rs 1,100 per sq.ft (2024)
• Ettiswarankovil Street Main St: Rs 1,100 per sq.ft (2024)
• Ellaiamman Koil street: Rs 880 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 803 per sq.ft, the total guideline value amounts to Rs 8,03,000. The stamp duty at 7% would be Rs 56,210, and the registration fee at 2% would be Rs 16,060, bringing the total to Rs 72,270. It is important to note that 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 Erular Colony?

The Sub Registrar Office that covers Erular Colony is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value plays a crucial role during the registration of property transactions in 44.Ayanambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall cost of registration. Buyers should ensure that their transaction price meets or exceeds the guideline value to avoid any complications during the registration process.

Frequently asked questions

What is the current guideline value of Erular Colony?

The current guideline value of Erular Colony is Rs 803 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 402 per sq.ft in 2017 to Rs 803 per sq.ft in both 2023 and 2024, resulting in a 100% increase overall from 2017 to 2024.

What is the median guideline value in 44.Ayanambakkam?

The median guideline value in 44.Ayanambakkam is Rs 1,300 per sq.ft, with Erular Colony's value being below this median.

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

The stamp duty for a property valued at Rs 8,03,000 is Rs 56,210, while the registration fee is Rs 16,060, totaling Rs 72,270.

Where can I find the Sub Registrar Office for Erular Colony?

The Konnur Sub Registrar Office covers Erular Colony, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.