Guideline Value for ERIKKARAI ST

Erikkarai St guideline value

The current guideline value of Erikkarai St, located in Paleripattu village under the Avadi SRO, is Rs 990 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Erikkarai St has changed

The guideline value for Erikkarai St has seen several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 900 per sq.ft, followed by a further increase to Rs 990 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

In summary, the changes between revisions show a 49% increase from 2017 to 2023, while the overall change from 2012 to 2024 is a 10% increase. It is worth noting that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Paleripattu

In Paleripattu, there are 111 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 801 to Rs 4,200 per sq.ft. The median value is Rs 990 per sq.ft, which is also the guideline value for Erikkarai St.

• Elite Avenue: Rs 2,200 per sq.ft (2024)
• Dr.M.G.R.St: Rs 990 per sq.ft (2024)
• Gandhi St: Rs 990 per sq.ft (2024)
• Gopal Naidu St: Rs 990 per sq.ft (2024)
• Cross St: Rs 990 per sq.ft (2024)
• Chidambaranar St: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Erikkarai St

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, while the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Erikkarai St?

The Sub Registrar Office that covers Erikkarai St is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Paleripattu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

Frequently asked questions

What is the current guideline value of Erikkarai St?

The current guideline value of Erikkarai St is Rs 990 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification for Erikkarai St?

Erikkarai St is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 990 per sq.ft, the total fees would be Rs 89,100.

Which office handles the registration for Erikkarai St?

The Avadi Sub Registrar Office handles the registration for Erikkarai St, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.