Guideline Value for Erikarai Rangam Street

Erikarai Rangam Street guideline value

The current guideline value of Erikarai Rangam 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 Rangam Street has changed

The guideline value of Erikarai Rangam Street has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 value for these streets is Rs 1,650 per sq.ft, which is equal to the guideline value of Erikarai Rangam Street.

• Erikarai 7th Street: Rs 1,650 per sq.ft (2024)
• Erikarai 6th Street: Rs 1,650 per sq.ft (2024)
• Erikarai 5th 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)

Stamp duty and registration fee for property in Erikarai Rangam 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 be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration fees would be Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Erikarai Rangam Street?

The Sub Registrar Office that covers Erikarai Rangam 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 details.

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

The guideline value is a crucial factor in property transactions in Kadaperi. It serves as the basis for calculating stamp duty and registration fees when buying or selling property. The value ensures that the transaction is recorded at a fair price according to government regulations.

When a property is registered, the guideline value is used to determine the fees that need to be paid. This process helps in maintaining transparency and standardization in property transactions, ensuring that all parties involved are aware of the financial implications of the sale.

Frequently asked questions

What is the current guideline value of Erikarai Rangam Street?

The current guideline value of Erikarai Rangam 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 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10% since 2012.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft property, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Erikarai Rangam Street?

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

Are there any revisions with no figures for Erikarai Rangam Street?

Yes, the register has no figures for the years 2002, 2003, and 2007 for Erikarai Rangam Street.