Guideline Value for ERIKARAI - FIRST STREET

Erikarai - First Street guideline value

The current guideline value of Erikarai - First Street is Rs 1,000 per sq.ft. This street is located in Kolapakkam village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Erikarai - First Street has changed

Over the years, the guideline value of Erikarai - First Street has seen several revisions. The 2007 revision set the value at Rs 150 per sq.ft, which then increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking an increase of 567%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, a decline of 33%. The most recent revision in 2023 brought the guideline value back to Rs 1,000 per sq.ft, reflecting a 49% increase from the 2017 figure.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 567%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Kolapakkam

Currently, there are no specific village figures available for Kolapakkam. However, Erikarai - First Street's guideline value stands at Rs 1,000 per sq.ft. There are no other streets in Kolapakkam listed under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Erikarai - First Street

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total charges to Rs 90,000. It is essential 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 Erikarai - First Street?

The Sub Registrar Office that covers Erikarai - First Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Kolapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the legal value of the property. It is essential to be aware of these figures to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Erikarai - First Street?

The current guideline value of Erikarai - First Street is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and finally returned to Rs 1,000 per sq.ft in 2023.

What are the stamp duty and registration fees for property in Erikarai - First Street?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Which office handles the registration for Erikarai - First Street?

The Gooduvancheri Sub Registrar Office is responsible for handling registrations for Erikarai - First Street, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

Are there any other streets in Kolapakkam with guideline values?

Currently, there are no other streets in Kolapakkam listed under the Gooduvancheri SRO, and no specific village figures are available for the area.