Guideline Value for EAST COAST ROAD (NEW MAHABLIPURAM ROAD & MUTTUKADU ROAD)

East Coast Road (New Mahablipuram Road & Muttukadu Road) guideline value

The current guideline value for East Coast Road (New Mahablipuram Road & Muttukadu Road) is Rs 8,300 per sq.ft, effective from 1 July 2024. This area is located in Palavakkam village and falls under the Neelankarai SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of East Coast Road (New Mahablipuram Road & Muttukadu Road) has changed

Since the 2002 revision, the guideline value for East Coast Road has undergone significant changes. In 2002, the guideline value was Rs 682 per sq.ft, which increased to Rs 762 per sq.ft in 2003. The subsequent revisions saw further increases, with the value reaching Rs 2,000 per sq.ft in 2007, and then jumping to Rs 7,500 per sq.ft in 2012. However, there was a decrease to Rs 5,025 per sq.ft in 2017. The value then rose to Rs 7,500 per sq.ft in 2023 before reaching the current figure of Rs 8,300 per sq.ft in 2024.

The changes between these revisions are noteworthy. From 2017 to 2023, there was a 49% increase, while the jump from 2007 to 2012 was 275%. The most recent change from 2023 to 2024 reflects an 11% increase. Overall, the guideline value has increased by 1117% from 2002 to 2024.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing East Coast Road's current figure significantly above this median.

• D.S.G.Nagar: Rs 2,800 per sq.ft (2024)
• D.S.G. Main Road 2nd Street: Rs 2,800 per sq.ft (2024)
• D.S.G. Main Road 1st Street: Rs 2,800 per sq.ft (2024)
• D.S.G. Main Road: Rs 2,800 per sq.ft (2024)
• Estate 2nd Main Road: Rs 8,800 per sq.ft (2024)
• E.V.R.Periyar Salai Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in East Coast Road (New Mahablipuram Road & Muttukadu Road)

For a 1,000 sq.ft plot at the current rate of Rs 8,300 per sq.ft, the guideline value amounts to Rs 83,00,000. The stamp duty at 7% would be Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total to Rs 7,47,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers East Coast Road (New Mahablipuram Road & Muttukadu Road)?

The Sub Registrar Office that covers East Coast Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration process when buying or selling property in Palavakkam. It determines the minimum value on which the stamp duty and registration fees are calculated.

When a property transaction occurs, the guideline value ensures that the government receives appropriate revenue from the sale. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be considered for duty calculations.

Frequently asked questions

What is the current guideline value for East Coast Road?

The current guideline value for East Coast Road (New Mahablipuram Road & Muttukadu Road) is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes from Rs 682 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024, reflecting an overall increase of 1117% over this period.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 83,00,000, the stamp duty would be Rs 5,81,000, and the registration fee would be Rs 1,66,000, totaling Rs 7,47,000.

Which office handles property registrations for East Coast Road?

The Neelankarai Sub Registrar Office handles property registrations for East Coast Road, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How does the guideline value affect property sales?

The guideline value is used to calculate the stamp duty and registration fees during property sales. It serves as a benchmark for the minimum value on which these fees are based.