Guideline Value for Eri Street

Eri Street guideline value

The current guideline value of Eri Street in Thirumangalam village, under the Sunguvarchattram SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of Eri Street has changed

The guideline value for Eri Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 250 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 167 per sq.ft, marking a decline of 33%. However, by the 2023 revision, the value increased to Rs 250 per sq.ft, reflecting a 50% increase from the 2017 figure.

As of the 2024 revision, the guideline value remains at Rs 250 per sq.ft, showing no change from the previous year. It is important to note that there are no figures available for Eri Street in the revisions for the years 2002, 2003, and 2007.

Guideline values in Thirumangalam

In Thirumangalam, there are 42 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 605 per sq.ft, which means Eri Street's 2024 figure is below that median.

• Hospital Street: Rs 300 per sq.ft (2024)
• Bharathiyar Ist Street: Rs 300 per sq.ft (2024)
• Bharathiyar IInd Street: Rs 300 per sq.ft (2024)
• Iswarya Nagar: Rs 605 per sq.ft (2024)
• Bangalore Main Road (Annai Velankanni Nagar Ist St To Kandigai Bus Stop): Rs 2,000 per sq.ft (2024)
• Bajanai Kovil Second Street: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in Eri Street

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. 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 Street?

The Sub Registrar Office covering Eri Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for calculating the stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Eri Street?

The current guideline value of Eri Street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2012 to Rs 167 per sq.ft in 2017, then back to Rs 250 per sq.ft in 2023, and remains at Rs 250 per sq.ft in 2024.

What is the median guideline value in Thirumangalam?

The median guideline value for the 42 streets in Thirumangalam is Rs 605 per sq.ft, making Eri Street's value below this median.

What are the stamp duty and registration fees for Eri Street?

For a 1,000 sq.ft plot at Rs 250 per sq.ft, the total guideline value is Rs 2,50,000, with stamp duty at Rs 17,500 and registration fee at Rs 5,000, totaling Rs 22,500.

Where can I find the Sub Registrar Office for Eri Street?

The Sub Registrar Office for Eri Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.