Guideline Value for EAST CIRCULAR ROAD

East Circular Road guideline value

The current guideline value of East Circular Road is Rs 15,900 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class I Type - II.

How the guideline value of East Circular Road has changed

The guideline value for East Circular Road has seen significant changes over the years. In 2002, the value was Rs 872 per sq.ft, which increased to Rs 969 per sq.ft in 2003, marking an increase of 11%. By 2007, the value surged to Rs 1,540 per sq.ft, reflecting a 59% rise. The 2012 revision set the value at Rs 14,500 per sq.ft, a substantial increase of 842% from 2007. The most recent revision in 2024 brought the value to Rs 15,900 per sq.ft, a 10% increase from 2012.

It is important to note that there are no figures available for the revisions in 2017 and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1723%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values in 2024 ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value is Rs 8,800 per sq.ft, placing East Circular Road's 2024 figure above this median.

• Dwaraka Colony: Rs 13,200 per sq.ft (2024)
• Durga Bai Deshmuk Road: Rs 17,600 per sq.ft (2024)
• East Tank Square Street: Rs 3,300 per sq.ft (2024)
• D-Silva Road: Rs 16,500 per sq.ft (2024)
• D'silva Lane: Rs 9,900 per sq.ft (2024)
• E Depot Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in East Circular Road

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value amounts to Rs 1,59,00,000. The stamp duty at 7% would be Rs 11,13,000, while the registration fee at 2% would be Rs 3,18,000, bringing the total fees to Rs 14,31,000. 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 East Circular Road?

The Sub Registrar Office that covers East Circular Road is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mylapore. 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 based on this value.

When buying or selling property, it is essential to consider the guideline value, as it impacts the overall costs involved in the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, but the higher amount will be used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of East Circular Road?

The current guideline value of East Circular Road is Rs 15,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 872 per sq.ft in 2002 to Rs 15,900 per sq.ft in 2024, which is a total increase of 1723%.

What is the land classification for East Circular Road?

East Circular Road is classified as Residential Class I Type - II, indicating its designation for residential use.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in East Circular Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,59,00,000, the stamp duty at 7% would be Rs 11,13,000.