Guideline Value for EAST COAST ROAD

East Coast Road guideline value

The current guideline value of East Coast Road in Enjambakkam village is Rs 7,200 per sq.ft, effective from 1 July 2024. This area falls under the Neelankarai Sub Registrar Office (SRO) and is classified as Commercial Class I Type - II.

How the guideline value of East Coast Road has changed

The guideline value for East Coast Road has undergone several revisions over the years. In 2003, the value was Rs 421 per sq.ft, which increased significantly to Rs 2,790 per sq.ft in 2007. This was followed by a further increase to Rs 6,500 per sq.ft in 2012. However, in 2017, the value decreased to Rs 4,355 per sq.ft. The value rose again to Rs 6,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 7,200 per sq.ft.

From 2023 to 2024, there was an increase of 11%. Comparing the 2017 figure to the 2023 figure, there was a substantial increase of 49%. The 2012 revision to the 2017 revision saw a decrease of 33%. From 2007 to 2012, the value increased by 133%, and from 2003 to 2007, it saw a remarkable increase of 563%. Overall, from 2003 to 2024, the guideline value has increased by 1610%. The register has no figure for the year 2002 for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value for East Coast Road is above this median.

• Easwari Nagar: Rs 2,800 per sq.ft (2024)
• Dr.Thomas Avenue: Rs 4,500 per sq.ft (2024)
• Dr.Nanajunda Rao Cross Street: Rs 3,900 per sq.ft (2024)
• Ellaiamman Koil Street: Rs 2,200 per sq.ft (2024)
• Dr.AMBEDKAR SALAI: Rs 1,700 per sq.ft (2024)
• Enjambakkam Meenavar Part: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in East Coast Road

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 72,00,000. The stamp duty at 7% amounts to Rs 5,04,000, and the registration fee at 2% is Rs 1,44,000, totaling Rs 6,48,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers East Coast Road?

The East Coast Road is covered by 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 information.

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

The guideline value serves as a benchmark for property transactions in Enjambakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees applicable to the transaction.

At the time of registration, the buyer must pay the relevant fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of East Coast Road?

The current guideline value of East Coast Road in Enjambakkam is Rs 7,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 421 per sq.ft in 2003 to Rs 7,200 per sq.ft in 2024, with various fluctuations in between, including a decrease in 2017.

What is the land classification for East Coast Road?

East Coast Road is classified as Commercial Class I Type - II under the Neelankarai SRO.

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

Stamp duty is charged at 7% of the guideline value or sale price, and the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 6,48,000 in fees.

Where is the Neelankarai Sub Registrar Office located?

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