Guideline Value for EriKarai Street

EriKarai Street guideline value

The current guideline value of EriKarai Street is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Athivakkam village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of EriKarai Street has changed

Looking at the historical revisions, the guideline value for EriKarai Street has seen several changes over the years. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 150 per sq.ft. The 2017 revision marked a significant increase to Rs 100 per sq.ft, representing a 50% increase from the previous figure. However, the register has no figures for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 50%. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 150 per sq.ft.

Guideline values in Athivakkam

Athivakkam village has a range of guideline values, with five streets under the Sunguvarchattram SRO carrying a 2024 figure between Rs 150 to Rs 200 per sq.ft. The median value is Rs 150 per sq.ft, placing EriKarai Street's 2024 figure at this median level.

• Green Farm House & Resorts: Rs 200 per sq.ft (2024)
• Mettu Street: Rs 150 per sq.ft (2024)
• Pallvadi Street: Rs 150 per sq.ft (2024)
• Perumal Kovil Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in EriKarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that the 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 EriKarai Street?

The Sub Registrar Office that covers EriKarai 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 Athivakkam

The guideline value is a crucial aspect during the registration of property transactions in Athivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of EriKarai Street?

The current guideline value of EriKarai Street is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft from 2012 to 2024, with a notable increase from Rs 100 per sq.ft in 2017, and no figures available for the revisions in 2002, 2003, and 2007.

What are the other streets in Athivakkam with their guideline values?

Other streets in Athivakkam include Green Farm House & Resorts at Rs 200 per sq.ft, and Mettu Street, Pallvadi Street, and Perumal Kovil Street, all at Rs 150 per sq.ft for 2024.

What fees are associated with purchasing property in EriKarai Street?

For a 1,000 sq.ft plot at the current guideline value, the total fees would include a stamp duty of Rs 10,500 and a registration fee of Rs 3,000, totaling Rs 13,500.

Which office handles the registration of properties in EriKarai Street?

The registration of properties in EriKarai Street is handled by the Sunguvarchattram Sub Registrar Office, located on Vadivamal Nagar Kandigai Road, opposite Caparo Company.