Guideline Value for Erikkarai Street(Main Road)

Erikkarai Street(Main Road) guideline value

The current guideline value of Erikkarai Street(Main Road) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village under the Ambattur SRO, classified as Residential Class II Type - I.

How the guideline value of Erikkarai Street(Main Road) has changed

The guideline value for Erikkarai Street(Main Road) has undergone several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The value then rose to Rs 1,500 per sq.ft in 2023, and finally reached Rs 1,600 per sq.ft in 2024, marking a 7% increase from the previous year.

In summary, the changes between revisions show a 200% increase from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then saw a substantial increase of 49% from 2017 to 2023, culminating in an overall increase of 220% from 2007 to 2024.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Erikkarai Street(Main Road) below this median.

• Eswaran Kovil Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Elumalai mesthri Street(Banu nagar): Rs 2,200 per sq.ft (2024)
• E.V.R. Periyar Avenue(banunagar west): Rs 2,200 per sq.ft (2024)
• Elango Street: Rs 1,900 per sq.ft (2024)
• E.V.R.Street (Gandhi Nagar): Rs 1,900 per sq.ft (2024)
• E.V.R.Street (Vinayagapuram): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Erikkarai Street(Main Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty, charged at 7%, would amount to Rs 1,12,000, while the registration fee at 2% would be Rs 32,000. Together, the total cost for these fees would be Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more accurate estimates based on your specific property details.

Which Sub Registrar Office covers Erikkarai Street(Main Road)?

The Sub Registrar Office that covers Erikkarai Street(Main Road) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical figure used during the registration of property transactions in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value helps establish the minimum value at which the property can be registered. This ensures that all transactions are recorded at a value that reflects the local market standards as set by the Registration Department.

Frequently asked questions

What is the current guideline value of Erikkarai Street(Main Road)?

The current guideline value of Erikkarai Street(Main Road) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, showing an overall increase of 220% over this period.

What is the land classification for Erikkarai Street(Main Road)?

Erikkarai Street(Main Road) is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Erikkarai Street(Main Road)?

The Sub Registrar Office for Erikkarai Street(Main Road) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Erikkarai Street(Main Road)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000.