Guideline Value for Erikarai 6th Street

Erikarai 6th Street guideline value

The current guideline value of Erikarai 6th 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 6th Street has changed

Over the years, the guideline value of Erikarai 6th Street has seen significant changes. The 2007 revision recorded a guideline value of Rs 300 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a decline of 33%. The subsequent revisions saw the value rise again, reaching Rs 1,500 per sq.ft in 2023, and finally increasing to Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year.

In total, the guideline value has increased by 450% from the 2007 revision to the current 2024 figure. The register has no figures for the years 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, with the median value being Rs 1,650 per sq.ft. Erikarai 6th Street's 2024 figure aligns with this median.

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

Stamp duty and registration fee for property in Erikarai 6th 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, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Erikarai 6th Street?

The Sub Registrar Office that covers Erikarai 6th Street is 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

The guideline value plays a crucial role in property transactions in Kadaperi. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure accurate financial planning for their transactions.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Erikarai 6th Street?

The current guideline value of Erikarai 6th 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 significantly from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 450% over the years.

What is the land classification for Erikarai 6th Street?

Erikarai 6th Street is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Erikarai 6th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for property in Erikarai 6th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.