Guideline Value for Erikkarai Street

Erikkarai Street guideline value

The current guideline value of Erikkarai Street is Rs 175 per sq.ft, effective from 1 July 2024. This street is located in Umaiyal Parancheri village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Erikkarai Street has changed

Looking at the revisions over the years, the guideline value for Erikkarai Street has seen several changes. The 2012 revision set the value at Rs 175 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 117 per sq.ft, marking a decrease of 33%. However, by the 2023 revision, the value increased by 50% to return to Rs 175 per sq.ft, and this figure has been maintained in the 2024 revision, showing no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the only relevant revisions are from 2012, 2017, 2023, and 2024, demonstrating a stable guideline value of Rs 175 per sq.ft from 2023 to 2024.

Guideline values in Umaiyal Parancheri

In Umaiyal Parancheri, there are 18 streets under the Sunguvarchattram SRO that carry a guideline value for 2024, ranging from Rs 175 to Rs 500 per sq.ft. The median value for these streets is Rs 200 per sq.ft, indicating that Erikkarai Street's 2024 figure is below this median.

• Issai Estate: Rs 250 per sq.ft (2024)
• Bharathidhasan Nagar: Rs 250 per sq.ft (2024)
• Arul Estate: Rs 250 per sq.ft (2024)
• Kanniamman Kovil Street: Rs 175 per sq.ft (2024)
• Ambethkar Street: Rs 175 per sq.ft (2024)
• L.K.S Garden: Rs 200 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 175 per sq.ft, the total guideline value amounts to Rs 1,75,000. The stamp duty at 7% would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, bringing the total cost for these charges to Rs 15,750. 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 further calculations.

Which Sub Registrar Office covers Erikkarai Street?

The Sub Registrar Office that covers Erikkarai Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property transactions in Umaiyal Parancheri, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements and to calculate applicable taxes.

When registering a property, the guideline value is used to assess stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Erikkarai Street?

The current guideline value of Erikkarai Street is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Erikkarai Street has remained at Rs 175 per sq.ft from 2023 to 2024, after increasing from Rs 117 per sq.ft in 2017. The value was also Rs 175 per sq.ft in 2012.

What is the land classification for Erikkarai Street?

Erikkarai Street is classified as Residential Class III Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for a property in Erikkarai Street?

For a 1,000 sq.ft property at the guideline value of Rs 175 per sq.ft, the total guideline value is Rs 1,75,000. The stamp duty would be Rs 12,250, and the registration fee would be Rs 3,500, totaling Rs 15,750.

Which office handles registrations for Erikkarai Street?

The Sunguvarchattram Sub Registrar Office handles registrations for Erikkarai Street, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.