Guideline Value for Erikarai 3rd Street

Erikarai 3rd Street guideline value

The current guideline value of Erikarai 3rd 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 for this area is Residential Class I Type - II.

How the guideline value of Erikarai 3rd Street has changed

The guideline value for Erikarai 3rd 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 rise of 400%. However, from 2012 to 2017, the value dropped by 33% to Rs 1,005 per sq.ft. The 2023 revision brought the value up to Rs 1,500 per sq.ft, which then increased by 10% to the current value of Rs 1,650 per sq.ft in 2024.

There are no figures available for the revisions in 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, with a median value of Rs 1,650 per sq.ft. The guideline value for Erikarai 3rd Street matches this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to 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, making the total charges Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Erikarai 3rd Street?

The Sub Registrar Office that covers Erikarai 3rd 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 details.

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

The guideline value plays a crucial role in property transactions in Kadaperi. It is used as a reference for calculating stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When purchasing property, the guideline value is compared with the sale price, and the higher amount is used for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Erikarai 3rd Street?

The current guideline value of Erikarai 3rd 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 changed from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office should I visit for transactions in Erikarai 3rd Street?

The Tambaram Joint 1 Sub Registrar Office covers Erikarai 3rd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Erikarai 3rd Street?

Erikarai 3rd Street is classified as Residential Class I Type - II according to the local regulations.