Guideline Value for Noombal Erikkarai School Street

Noombal Erikkarai School Street guideline value

The current guideline value of Noombal Erikkarai School Street is Rs 2,090 per sq.ft, effective from 1 July 2024. This street is located in Noombal village, under the Kunrathur SRO, and is classified as Residential Special Type - I.

How the guideline value of Noombal Erikkarai School Street has changed

The guideline value for Noombal Erikkarai School Street has undergone several revisions over the years. The earliest registered figure is from the 2017 revision, where it was Rs 1,273 per sq.ft. This value increased to Rs 1,900 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,090 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. There are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which is equal to the guideline value of Noombal Erikkarai School Street.

• Noombal Erikkarai Ist Cross Street: Rs 2,090 per sq.ft (2024)
• Noombal Erikkarai Street: Rs 2,090 per sq.ft (2024)
• Noombal Erikkarai 2nd Cross Street: Rs 2,090 per sq.ft (2024)
• Noombal Gardenia: Rs 3,300 per sq.ft (2024)
• Noombal Church Street: Rs 1,870 per sq.ft (2024)
• Noombal kannabiran Street: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Noombal Erikkarai School Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, bringing the total cost for these charges to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Noombal Erikkarai School Street?

The Sub Registrar Office that covers Noombal Erikkarai School Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Noombal. It is used to determine the stamp duty and registration fees that need to be paid during the sale or purchase of a property. Buyers and sellers should be aware that the guideline value is a reference point for these charges.

When registering a property, the guideline value ensures that the transaction is recorded at a fair price, which is essential for legal and taxation purposes. Both parties in a transaction should consider the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Noombal Erikkarai School Street?

The current guideline value of Noombal Erikkarai School Street is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,273 per sq.ft in 2017 to Rs 1,900 per sq.ft in 2023, and finally to Rs 2,090 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification of Noombal Erikkarai School Street?

Noombal Erikkarai School Street is classified as Residential Special Type - I. This classification impacts the guideline value and the types of properties that can be developed in the area.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is 2%. For example, for a property valued at Rs 20,90,000, the total charges would be Rs 1,88,100.

Where can I find the Kunrathur Sub Registrar Office?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. It is the office responsible for property registrations in Noombal Erikkarai School Street.