Guideline Value for Erikkari Street

Erikkari Street guideline value

The current guideline value of Erikkari Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class II Type - I.

How the guideline value of Erikkari Street has changed

Since the 2003 revision, the guideline value of Erikkari Street has seen significant changes. In 2003, the value was Rs 173 per sq.ft, which increased to Rs 700 per sq.ft in 2007, marking a substantial rise of 305%. The value then remained unchanged at Rs 2,500 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 saw an increase to Rs 2,700 per sq.ft, representing an 8% rise from the previous year.

Notably, the register has no figures for the years 2002 and 2017 for this street. Overall, from 2003 to 2024, the guideline value has increased by 1461%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft as of 2024. The median value is Rs 3,300 per sq.ft, placing Erikkari Street's 2024 figure below this median.

• Elumalai Nagar: Rs 2,700 per sq.ft (2024)
• Ellaiamman Koil Street: Rs 2,700 per sq.ft (2024)
• East Street Lane: Rs 2,200 per sq.ft (2024)
• East Street: Rs 2,700 per sq.ft (2024)
• East Railway Gate Cross Lane: Rs 2,200 per sq.ft (2024)
• East Railway Gate: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Erikkari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for stamp duty and registration fees to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Erikkari Street?

The Sub Registrar Office that covers Erikkari Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Erikkari Street?

The current guideline value of Erikkari Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 173 per sq.ft to Rs 2,700 per sq.ft in 2024, reflecting a total increase of 1461% over this period.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees amount to Rs 2,43,000, which includes Rs 1,89,000 for stamp duty and Rs 54,000 for registration fees.

Which Sub Registrar Office covers Erikkari Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, covers Erikkari Street.

What is the land classification for Erikkari Street?

Erikkari Street is classified as Residential Class II Type - I, indicating its suitability for residential development.