Guideline Value for Erikarai Street

Erikarai Street guideline value

The current guideline value of Erikarai Street is Rs 250 per sq.ft, effective from 1 July 2024. This street is located in Siruvadal village, under the Sunguvarchattram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Erikarai Street has changed

In the 2012 revision, the guideline value for Erikarai Street was Rs 250 per sq.ft. This value remained unchanged in the 2017 revision, where it was Rs 167 per sq.ft, reflecting a decrease of 33%. The 2023 revision saw an increase of 50%, bringing the value back to Rs 250 per sq.ft. The current 2024 revision maintains this value, showing no change from the previous year.

The register does not contain figures for the years 2002, 2003, and 2007 for Erikarai Street. Overall, from 2012 to 2024, the guideline value has remained at Rs 250 per sq.ft.

Guideline values in Siruvadal

In Siruvadal, three streets under the Sunguvarchattram SRO have a 2024 guideline value ranging from Rs 200 to Rs 500 per sq.ft, with a median value of Rs 250 per sq.ft. Erikarai Street's 2024 figure aligns with this median.

• Bangalore Main Road: Rs 500 per sq.ft (2024)
• Pillai Kovil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Erikarai Street

For a 1,000 sq.ft plot at the current rate of Rs 250 per sq.ft, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Erikarai Street?

The Sub Registrar Office covering Erikarai Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Siruvadal, as it determines the minimum value at which a property can be registered. Buyers and sellers use this value to calculate stamp duty and registration fees, which are essential costs in the property buying process.

When registering a property, the guideline value ensures that the transaction is documented at a fair price, reflecting the local market conditions. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Erikarai Street?

The current guideline value of Erikarai Street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2012 to 2024, with a drop to Rs 167 per sq.ft in 2017 and a return to Rs 250 per sq.ft in 2023.

What are the other streets in Siruvadal with their guideline values?

Other streets in Siruvadal include Bangalore Main Road with a guideline value of Rs 500 per sq.ft and Pillai Kovil Street with Rs 200 per sq.ft, both effective in 2024.

What fees are associated with buying property in Erikarai Street?

The fees include stamp duty at 7% and a registration fee at 2% of the guideline value, which is Rs 2,50,000 for a 1,000 sq.ft plot, resulting in total fees of Rs 22,500.

Where can I find the Sub Registrar Office for Erikarai Street?

The Sub Registrar Office for Erikarai Street is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.