Guideline Value for Sivanantham Nagar Erikkarai Street

Sivanantham Nagar Erikkarai Street guideline value

The current guideline value of Sivanantham Nagar Erikkarai Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Sivanantham Nagar Erikkarai Street has changed

Over the years, the guideline value of Sivanantham Nagar Erikkarai Street has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following that, the 2023 revision increased it to Rs 2,000 per sq.ft, and the latest 2024 revision has further raised it to Rs 2,200 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

The changes between the revisions are significant. From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft, with a median value of Rs 3,600 per sq.ft. The guideline value for Sivanantham Nagar Erikkarai Street is below this median.

• Sivanantham nagar 5th Street: Rs 2,200 per sq.ft (2024)
• Sivanantham Nagar Pillaiyarkoil Street: Rs 2,200 per sq.ft (2024)
• Sivanantham Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Sivanantham Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Sivanantham Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Sivanantham Nagar 1st Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sivanantham Nagar Erikkarai Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sivanantham Nagar Erikkarai Street?

The Sub Registrar Office that covers Sivanantham Nagar Erikkarai Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is an essential factor when buying or selling property in Ambattur, as it determines the minimum value at which a property can be registered. This value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

When a property transaction occurs, the buyer must consider the guideline value to ascertain the costs associated with registration. It is crucial to be aware that the guideline value may differ from the actual sale price, and the higher amount will be used to calculate the duties and fees.

Frequently asked questions

What is the current guideline value of Sivanantham Nagar Erikkarai Street?

The current guideline value of Sivanantham Nagar Erikkarai Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sivanantham Nagar Erikkarai Street?

Sivanantham Nagar Erikkarai Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Sivanantham Nagar Erikkarai Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Ambattur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.