Guideline Value for Erikkarai Street

Erikkarai Street guideline value

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

How the guideline value of Erikkarai Street has changed

The guideline value for Erikkarai Street has remained stable at Rs 250 per sq.ft from the 2023 revision to the 2024 revision, showing no change. Prior to this, the 2017 revision recorded a guideline value of Rs 167 per sq.ft, indicating a 50% increase in value from 2017 to 2023.

Since the 2017 revision, the overall change in guideline value from Rs 167 to Rs 250 per sq.ft reflects a 50% increase. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Irunkattukottai_B

In Irunkattukottai_B, there are 54 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 1,200 per sq.ft, with a median value of Rs 400 per sq.ft. The guideline value of Erikkarai Street is below this median.

• Ganapathy Nagar: Rs 250 per sq.ft (2024)
• Ganesh Nagar Colony: Rs 250 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 800 per sq.ft (2024)
• Colony Bajanai Koil Street: Rs 250 per sq.ft (2024)
• Grama Bajanai Koil Street: Rs 600 per sq.ft (2024)
• Indira Gandhi Street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Erikkarai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total 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, making the total cost for these fees Rs 22,500. 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 Erikkarai Street?

The Sub Registrar Office that covers Erikkarai Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Irunkattukottai_B. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is legally recognized and recorded.

When buying or selling property, it is essential to be aware of the guideline value, as it can affect the overall costs involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Erikkarai Street?

The current guideline value of Erikkarai 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 the 2023 revision to the 2024 revision. From the 2017 revision to the 2023 revision, it increased by 50% from Rs 167 to Rs 250 per sq.ft.

What is the classification of Erikkarai Street?

Erikkarai Street is classified as Residential Class IV Type - I, indicating its designation for residential use within the area.

What fees are associated with buying property in Erikkarai Street?

When buying property in Erikkarai Street, buyers should consider the stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Erikkarai Street is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.