Guideline Value for Erikkarai Street

Erikkarai Street guideline value

The current guideline value of Erikkarai Street is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Pulikoradu village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Erikkarai Street has changed

The guideline value for Erikkarai Street has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 200 per sq.ft. This value increased significantly to Rs 600 per sq.ft in 2012, marking a 200% increase. In 2023, the value further rose to Rs 800 per sq.ft, which is a 33% increase from the previous revision. The latest revision in 2024 set the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no recorded figures for Erikkarai Street in the revisions of 2002, 2003, and 2017. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Pulikoradu

In Pulikoradu, there are 62 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value in this village is Rs 880 per sq.ft, which is equal to the guideline value of Erikkarai Street.

• East Street: Rs 880 per sq.ft (2024)
• Gandhi Nagar: Rs 880 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 880 per sq.ft (2024)
• Devi Granites: Rs 880 per sq.ft (2024)
• David Nagar: Rs 1,650 per sq.ft (2024)
• G.S.T. Road: Rs 6,600 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 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Erikkarai Street?

Erikkarai Street is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Pulikoradu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the correct amounts are collected based on the value of the property as determined by the local authorities. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Erikkarai Street?

The current guideline value of Erikkarai Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 200 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the stamp duty rate for properties in Erikkarai Street?

The stamp duty rate for properties in Erikkarai Street is 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Erikkarai Street is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What are the other streets in Pulikoradu with the same guideline value?

Other streets in Pulikoradu with the same guideline value of Rs 880 per sq.ft include East Street, Gandhi Nagar, Gangaiamman Koil Street, and Devi Granites.