Guideline Value for Erikkarai Street

Erikkarai Street guideline value

The current guideline value of Erikkarai Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in the village of Pillaippakkam-A under the Sriperumpudur SRO, classified as Residential Class III Type - I.

How the guideline value of Erikkarai Street has changed

In the 2017 revision, the guideline value for Erikkarai Street was Rs 134 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 200 per sq.ft. The latest revision in 2024 has kept the guideline value at Rs 200 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has also increased by 49%, reflecting the same value of Rs 200 per sq.ft in the most recent revision.

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, there are 49 streets under the Sriperumpudur SRO that have a 2024 guideline value ranging from Rs 100 to Rs 1,254 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, indicating that Erikkarai Street's 2024 figure is below this median.

• Ganapathy Nagar: Rs 200 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 300 per sq.ft (2024)
• Deepak Nagar: Rs 300 per sq.ft (2024)
• Cyrstel Gardens: Rs 300 per sq.ft (2024)
• Guberan Nagar: Rs 1,254 per sq.ft (2024)
• Guberan Nagar Part - II: Rs 840 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 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, while the registration fee at 2% would be Rs 4,000. Together, the total cost for these fees would be Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

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 Pillaippakkam-A

The guideline value is a crucial factor when registering property transactions in Pillaippakkam-A. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees based on this value.

When buying or selling a property, it is essential to consider the guideline value as it influences the overall costs involved in the transaction. Buyers should be aware that the guideline value may affect the financing and valuation of the property during the sale process.

Frequently asked questions

What is the current guideline value of Erikkarai Street?

The current guideline value of Erikkarai Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%, remaining at Rs 200 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification for Erikkarai Street?

Erikkarai Street is classified as Residential Class III Type - I under the current guidelines.

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

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

How is stamp duty calculated for properties in Erikkarai Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000 at 7%.