Guideline Value for Soolpunalkarai Dr.Ambedkar Street

Soolpunalkarai Dr.Ambedkar Street guideline value

The current guideline value of Soolpunalkarai Dr.Ambedkar Street is Rs 3,000 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Soolpunalkarai Dr.Ambedkar Street has changed

The guideline value for Soolpunalkarai Dr.Ambedkar Street has seen several revisions over the years. In 2012, the value was Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023, and then rose again to the current rate of Rs 3,000 per sq.ft in 2024, marking a 7% increase from the previous year.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median of Rs 2,500 per sq.ft. Soolpunalkarai Dr.Ambedkar Street's 2024 figure of Rs 3,000 per sq.ft is above this median.

• Soolpunalkarai Jeevanantham Street: Rs 2,500 per sq.ft (2024)
• Solayamman 2nd Street: Rs 2,500 per sq.ft (2024)
• Solayamman 1st Street: Rs 2,500 per sq.ft (2024)
• Solaiamman Street: Rs 2,500 per sq.ft (2024)
• Sivashankaran Street (Kennedy Nagar): Rs 2,500 per sq.ft (2024)
• Sivashankaran Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Soolpunalkarai Dr.Ambedkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total fees to Rs 2,70,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Soolpunalkarai Dr.Ambedkar Street?

The Soolpunalkarai Dr.Ambedkar Street falls under the Madhavaram Sub Registrar Office, 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 serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall costs involved in the transaction. Buyers should consider this value to understand the financial implications of their property purchase.

Frequently asked questions

What is the current guideline value of Soolpunalkarai Dr.Ambedkar Street?

The current guideline value of Soolpunalkarai Dr.Ambedkar Street is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the land classification for Soolpunalkarai Dr.Ambedkar Street?

Soolpunalkarai Dr.Ambedkar Street is classified as Residential Class I Type - I.

Which Sub Registrar Office is responsible for Soolpunalkarai Dr.Ambedkar Street?

The Madhavaram Sub Registrar Office is responsible for Soolpunalkarai Dr.Ambedkar Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable on the guideline value.