Guideline Value for Srinivasa Perumal Kovil 2nd Lane

Srinivasa Perumal Kovil 2nd Lane guideline value

The current guideline value of Srinivasa Perumal Kovil 2nd Lane is Rs 1,900 per sq.ft. This street is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class V Type - I.

How the guideline value of Srinivasa Perumal Kovil 2nd Lane has changed

Over the years, the guideline value for Srinivasa Perumal Kovil 2nd Lane has undergone several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and then rose again to Rs 1,900 per sq.ft in the 2024 revision, marking a 6% increase from the previous year.

From the 2012 revision to the 2024 revision, the overall change is a modest increase of 6%. Notably, the 2017 revision did not have a figure for this street in the register for the years 2002, 2003, and 2007.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value for Srinivasa Perumal Kovil 2nd Lane is below this median.

• Srinivasa Perumal Kovil 1st Lane: Rs 1,900 per sq.ft (2024)
• Srinivasa Perumal Kovil 3rd Lane: Rs 1,900 per sq.ft (2024)
• Srinivasa Perumal Kovil Street: Rs 1,900 per sq.ft (2024)
• Srinivasan Street (Krishnamoorthy Nagar): Rs 2,200 per sq.ft (2024)
• Srinivasan Street: Rs 2,200 per sq.ft (2024)
• St. Andrews Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Perumal Kovil 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. 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 Srinivasa Perumal Kovil 2nd Lane?

The Sub Registrar Office that covers Srinivasa Perumal Kovil 2nd Lane is 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 is a crucial factor in property transactions in Erukancherry, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the applicable stamp duty and registration fees.

When registering a property, the guideline value is used to assess the stamp duty, which is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Srinivasa Perumal Kovil 2nd Lane?

The current guideline value of Srinivasa Perumal Kovil 2nd Lane is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification for Srinivasa Perumal Kovil 2nd Lane?

Srinivasa Perumal Kovil 2nd Lane is classified as Residential Class V Type - I.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7%, which is applied to the higher of the guideline value or the sale price.

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

The Madhavaram Sub Registrar Office covers Srinivasa Perumal Kovil 2nd Lane and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.