Guideline Value for EAST COASTAL ROAD

East Coastal Road guideline value

The current guideline value of East Coastal Road is Rs 12,650 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of East Coastal Road has changed

The guideline value for East Coastal Road has seen significant changes over the years. The earliest recorded figure is from 2002, which was Rs 1,269 per sq.ft. This increased to Rs 1,404 per sq.ft in 2003, marking an 11% rise. The value then jumped to Rs 3,019 per sq.ft in 2007, representing a substantial increase of 115%. By 2012, the guideline value was Rs 11,500 per sq.ft, reflecting a remarkable growth of 281% from the previous revision. However, this figure dropped to Rs 7,705 per sq.ft in 2017, a decrease of 33%.

In the subsequent revisions, the guideline value rose again to Rs 11,500 per sq.ft in 2023, followed by the current value of Rs 12,650 per sq.ft in 2024, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 897%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for the village is Rs 9,900 per sq.ft, and East Coastal Road's 2024 figure is above this median.

• East Mada Veethi: Rs 7,160 per sq.ft (2024)
• East Sea Cross Street: Rs 12,650 per sq.ft (2024)
• Duraisamy Street: Rs 7,150 per sq.ft (2024)
• Eliots Beach Road: Rs 12,650 per sq.ft (2024)
• District Boag Road: Rs 11,000 per sq.ft (2024)
• Dharmambal Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in East Coastal Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,650 per sq.ft, the total guideline value would be Rs 1,26,50,000. The stamp duty at 7% would amount to Rs 8,85,500, and the registration fee at 2% would be Rs 2,53,000, bringing the total to Rs 11,38,500. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers East Coastal Road?

The Sub Registrar Office that covers East Coastal Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Thiruvanmiyur. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers should be aware that the guideline value is the basis for these fees, which are calculated on the higher of the guideline value or the sale price.

When registering a property, it is essential to refer to the guideline value to understand the financial implications of the transaction. This ensures that all legal requirements are met and that the correct fees are paid to the registration office.

Frequently asked questions

What is the current guideline value of East Coastal Road?

The current guideline value of East Coastal Road is Rs 12,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,269 per sq.ft in 2002 to Rs 12,650 per sq.ft in 2024, representing an overall increase of 897% over the years.

What are the stamp duty and registration fees for property in East Coastal Road?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 8,85,500, and the registration fee would be Rs 2,53,000, totaling Rs 11,38,500.

Which Sub Registrar Office covers East Coastal Road?

The Chennai South Joint I Sub Registrar Office covers East Coastal Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for East Coastal Road?

The land classification for East Coastal Road is Residential Special Type - I, indicating its designated use for residential purposes.