Guideline Value for Erikkarai Theru

Erikkarai Theru guideline value

The current guideline value of Erikkarai Theru is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Erikkarai Theru has changed

The guideline value for Erikkarai Theru has seen several revisions over the years. The oldest available figure is from 2012, which was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 1,500 per sq.ft, and then further rose to Rs 1,650 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Between the 2017 and 2023 revisions, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of Erikkarai Theru is below this median.

• Emarald Apartments: Rs 2,640 per sq.ft (2024)
• Ethirasan Street: Rs 1,650 per sq.ft (2024)
• Elango Theru: Rs 1,980 per sq.ft (2024)
• Ebinezar Nagar: Rs 1,650 per sq.ft (2024)
• FCI Nagar: Rs 2,640 per sq.ft (2024)
• FCI Nagar I to V: Rs 2,640 per sq.ft (2024)

Stamp duty and registration fee for property in Erikkarai Theru

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Erikkarai Theru?

The Sub Registrar Office that covers Erikkarai Theru is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the transaction's legitimacy and preventing undervaluation. It is crucial for both buyers and sellers to be aware of the guideline value to ensure compliance with registration norms.

Frequently asked questions

What is the current guideline value of Erikkarai Theru?

The current guideline value of Erikkarai Theru is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, with fluctuations in between, including a decrease to Rs 1,005 in 2017 and an increase to Rs 1,500 in 2023.

What is the land classification of Erikkarai Theru?

Erikkarai Theru is classified as Residential Class IV Type - II, indicating its suitability for residential purposes.

What are the stamp duty rates for properties in Erikkarai Theru?

The stamp duty for properties in Erikkarai Theru is 7% of the guideline value or the sale price, whichever is higher. The registration fee is 2% of the guideline value.

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

The Padappai Sub Registrar Office covers Erikkarai Theru, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.