Guideline Value for Sembarambakkam Erikarai Street

Sembarambakkam Erikarai Street guideline value

The current guideline value of Sembarambakkam Erikarai Street is Rs 1,550 per sq.ft, effective from 1 July 2024. This street is located in Thirunageswaram village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Sembarambakkam Erikarai Street has changed

In the 2012 revision, the guideline value was Rs 1,400 per sq.ft. This figure saw a significant decrease to Rs 938 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased sharply to Rs 1,400 per sq.ft, an increase of 49%. The most recent revision in 2024 set the value at Rs 1,550 per sq.ft, reflecting an 11% rise from the previous year.

The register has no figure for Sembarambakkam Erikarai Street for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Thirunageswaram

In Thirunageswaram, there are 105 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,550 per sq.ft. The guideline value for Sembarambakkam Erikarai Street matches this median.

• Sembadava (Or)Meenavar Street: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Thiruneelakandar Salai: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Thirumoolar Salai: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Thilagavathiar Street: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Siruthondar Salai: Rs 1,550 per sq.ft (2024)
• Sekkizhar Nagar Manickavasagar Street: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Sembarambakkam Erikarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,550 per sq.ft, the total guideline value would be Rs 15,50,000. The stamp duty at 7% would amount to Rs 1,08,500, and the registration fee at 2% would be Rs 31,000, totaling Rs 1,39,500. 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 Street?

The Sembarambakkam Erikarai Street falls under the jurisdiction of 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 Thirunageswaram

The guideline value is a crucial factor during the registration of property transactions in Thirunageswaram. It serves as a benchmark for determining the amount of stamp duty and registration fees that need to be paid, ensuring that all transactions are recorded at a fair value.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and compliance with local regulations, making it an essential aspect of real estate transactions in the area.

Frequently asked questions

What is the current guideline value of Sembarambakkam Erikarai Street?

The current guideline value of Sembarambakkam Erikarai Street is Rs 1,550 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then back to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,550 per sq.ft in 2024.

What is the land classification for Sembarambakkam Erikarai Street?

Sembarambakkam Erikarai Street is classified as Residential Special Type - II.

How does the guideline value affect property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for the minimum value at which properties can be registered.

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. This office handles the registration of properties in Sembarambakkam Erikarai Street.