Guideline Value for Sembarambakkam Erikarai Salai

Sembarambakkam Erikarai Salai guideline value

The current guideline value of Sembarambakkam Erikarai Salai is Rs 1,430 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village under the Kunrathur SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Sembarambakkam Erikarai Salai has changed

The guideline value for Sembarambakkam Erikarai Salai has undergone several revisions over the years. The 2017 revision set the value at Rs 871 per sq.ft, which increased to Rs 1,300 per sq.ft in the 2023 revision. The most recent 2024 revision has raised the guideline value to Rs 1,430 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are a total of 325 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, which means Sembarambakkam Erikarai Salai's 2024 figure is below that median.

• Selvaraman swamy Koil Street: Rs 1,430 per sq.ft (2024)
• Selliamman Koil Street: Rs 2,090 per sq.ft (2024)
• Sekkizhar Street: Rs 1,430 per sq.ft (2024)
• Sekkizhar Nagar: Rs 1,430 per sq.ft (2024)
• Serasa Urbane: Rs 3,070 per sq.ft (2024)
• Seven Hills Nagar: Rs 1,430 per sq.ft (2024)

Stamp duty and registration fee for property in Sembarambakkam Erikarai Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430, the total guideline value would be Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, bringing the total cost for these charges to Rs 1,28,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sembarambakkam Erikarai Salai?

The Sembarambakkam Erikarai Salai is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

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

When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the higher of the guideline value or the sale price, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Sembarambakkam Erikarai Salai?

The current guideline value of Sembarambakkam Erikarai Salai is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 871 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2023, and it has increased to Rs 1,430 per sq.ft in 2024. The overall increase from 2017 to 2024 is 64%.

What is the land classification for Sembarambakkam Erikarai Salai?

Sembarambakkam Erikarai Salai is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the registration fees for property transactions?

The registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 14,30,000, the registration fee would be Rs 28,600 at a rate of 2%.

Which office handles property registrations in Kunrathour-B?

The Kunrathur Sub Registrar Office handles property registrations in Kunrathour-B. It is located at No.59, Road Street, Kundrathur, Chennai -600 069.