Guideline Value for ERI KARAI STREET

Eri Karai Street guideline value

The current guideline value of Eri Karai Street is Rs 660 per sq.ft, effective from 1 July 2024. This street is located in Thiruporur village, under the Thiruporur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Eri Karai Street has changed

The guideline value for Eri Karai Street has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, marking a 79% rise. The latest revision in 2024 has further increased the value to Rs 660 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for Eri Karai Street in the revisions from 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 32%.

Guideline values in Thiruporur

In Thiruporur, there are 31 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 495 to Rs 4,500 per sq.ft. The median value among these streets is Rs 880 per sq.ft, placing Eri Karai Street's 2024 figure below the median.

• East Mada Street: Rs 880 per sq.ft (2024)
• Gandhi Street: Rs 880 per sq.ft (2024)
• Gokul Avenue: Rs 1,320 per sq.ft (2024)
• Chengalpattu Road: Rs 770 per sq.ft (2024)
• Harijan Colony: Rs 495 per sq.ft (2024)
• Illalore Road: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Eri Karai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. 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 Eri Karai Street?

The Eri Karai Street falls under the jurisdiction of the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Thiruporur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both the buyer and seller are aware of the financial implications of the transaction. It is essential for buyers to be informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Eri Karai Street?

The current guideline value of Eri Karai Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 660 per sq.ft in 2024, with significant increases in 2023 and 2024. The value decreased to Rs 335 per sq.ft in 2017 before rising again.

What is the land classification for Eri Karai Street?

Eri Karai Street is classified as Residential Class III Type - I, which indicates its use for residential purposes.

Where can I find the Thiruporur Sub Registrar Office?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is stamp duty calculated for properties in Eri Karai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate would incur a stamp duty of Rs 46,200.