Guideline Value for Srinivasa Perumal Kovil 3rd Lane

Srinivasa Perumal Kovil 3rd Lane guideline value

The current guideline value of Srinivasa Perumal Kovil 3rd Lane is Rs 1,900 per sq.ft. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class V Type - I.

How the guideline value of Srinivasa Perumal Kovil 3rd Lane has changed

The guideline value for Srinivasa Perumal Kovil 3rd Lane has undergone several revisions over the years. In 2012, the value was set at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in 2017, marking a decline of 33%. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and then to Rs 1,900 per sq.ft in 2024, reflecting a 6% increase.

From 2017 to 2023, there was a notable increase of 49%, bringing the value back up to Rs 1,800 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

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

• Srinivasa Perumal Kovil 2nd Lane: Rs 1,900 per sq.ft (2024)
• Srinivasa Perumal Kovil Street: Rs 1,900 per sq.ft (2024)
• Srinivasa Perumal Kovil 1st Lane: 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 3rd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total cost for these fees 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.

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

Which Sub Registrar Office covers Srinivasa Perumal Kovil 3rd Lane?

The Sub Registrar Office that covers Srinivasa Perumal Kovil 3rd Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration of property transactions in Erukancherry. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per the local regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Srinivasa Perumal Kovil 3rd Lane?

The current guideline value of Srinivasa Perumal Kovil 3rd 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 back 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 3rd Lane?

Srinivasa Perumal Kovil 3rd Lane is classified as Residential Class V Type - I, indicating its suitability for residential purposes.

What are the stamp duty rates applicable in Chennai?

In Chennai, the stamp duty is typically charged at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. It is the office responsible for property registrations in this area.