Guideline Value for Erikarai 1st Street

Erikarai 1st Street guideline value

The current guideline value of Erikarai 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kadaperi village and falls under the Tambaram Joint 1 SRO. The land classification is Residential Class I Type - II.

How the guideline value of Erikarai 1st Street has changed

The guideline value for Erikarai 1st Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, it experienced a decline to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The value then rose again to Rs 1,500 per sq.ft in 2023, and most recently, it has increased by 10% to the current rate of Rs 1,650 per sq.ft effective from 1 July 2024.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that have a 2024 guideline value ranging from Rs 880 to Rs 7,700 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the 2024 figure for Erikarai 1st Street.

• Erikarai 2nd Street: Rs 1,650 per sq.ft (2024)
• Erikarai 3rd Street: Rs 1,650 per sq.ft (2024)
• Erikarai 4th Street: Rs 1,650 per sq.ft (2024)
• Erikarai 5th Street: Rs 1,650 per sq.ft (2024)
• Erikarai 6th Street: Rs 1,650 per sq.ft (2024)
• Erikarai 7th Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Erikarai 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Erikarai 1st Street?

The Sub Registrar Office that covers Erikarai 1st Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Kadaperi. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value helps ensure that the registration process is transparent and standardized.

When selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in negotiating the sale price and ensures that the transaction is in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Erikarai 1st Street?

The current guideline value of Erikarai 1st Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking a total increase of 450% over the years.

What are the stamp duty and registration fees for property in Erikarai 1st Street?

The stamp duty is 7% and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total cost for these fees would be Rs 1,48,500.

Which Sub Registrar Office serves Erikarai 1st Street?

The Tambaram Joint 1 Sub Registrar Office serves Erikarai 1st Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Erikarai 1st Street?

Erikarai 1st Street is classified as Residential Class I Type - II according to the local regulations.