Guideline Value for Erikarai 4th Street

Erikarai 4th Street guideline value

The current guideline value of Erikarai 4th 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 4th Street has changed

The guideline value for Erikarai 4th Street has seen several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 300 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% increase. However, it then decreased to Rs 1,005 per sq.ft in 2017, which was a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, followed by a current value of Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The register does not have figures for the revisions in 2002 and 2003 for this street.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 7,700 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Erikarai 4th Street.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. 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 details.

Which Sub Registrar Office covers Erikarai 4th Street?

Erikarai 4th Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Kadaperi, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction. This value serves as a benchmark for property transactions, ensuring that the fees are calculated based on a standardized rate.

It is important to note that the guideline value may differ from the sale price of the property. The stamp duty is charged on the higher of the guideline value or the sale price, which means that buyers should be aware of both figures when planning their transactions.

Frequently asked questions

What is the current guideline value of Erikarai 4th Street?

The current guideline value of Erikarai 4th 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 significantly, increasing from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, which is an overall increase of 450%.

What are the stamp duty and registration fees for property in Erikarai 4th Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total fees would be Rs 1,48,500.

Which office handles registrations for Erikarai 4th Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Erikarai 4th Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification for Erikarai 4th Street?

The land classification for Erikarai 4th Street is Residential Class I Type - II.