Guideline Value for Sarojini Ammal Street

Sarojini Ammal Street guideline value

The current guideline value of Sarojini Ammal Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Sarojini Ammal Street has changed

The guideline value for Sarojini Ammal Street has undergone several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 2,300 per sq.ft. This value saw a decrease to Rs 1,541 per sq.ft in 2017, before increasing to Rs 2,300 per sq.ft again in 2023. The most recent revision in 2024 set the guideline value at Rs 2,500 per sq.ft, marking a 9% increase from the previous year.

In summary, the changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 9%. The overall change from 2012 to 2024 is a 9% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

Erukancherry village has 376 streets under the Madhavaram SRO, with a 2024 guideline value range from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, which matches the current guideline value of Sarojini Ammal Street.

• Saravana Street (Thiruvalluvar Nagar): Rs 2,200 per sq.ft (2024)
• Saravanan Street (Lakshmi amman Nagar): Rs 1,900 per sq.ft (2024)
• Saravanan Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Saravanan Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Saravanan Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Sathiyavani Muthu Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sarojini Ammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty at 7% would amount to Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. 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 more details.

Which Sub Registrar Office covers Sarojini Ammal Street?

The Madhavaram Sub Registrar Office covers Sarojini Ammal Street, 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 plays a crucial role during the registration of property transactions in Erukancherry. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value helps establish a baseline for the transaction price. This ensures that both the buyer and seller are aware of the minimum value recognized by the authorities, facilitating a smoother registration process.

Frequently asked questions

What is the current guideline value of Sarojini Ammal Street?

The current guideline value of Sarojini Ammal Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for Sarojini Ammal Street?

Sarojini Ammal Street is classified as Residential Class III Type - I.

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 Sarojini Ammal Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at 7%.