Guideline Value for EAST MAIN ROAD

East Main Road guideline value

The current guideline value of East Main Road in Padi village is Rs 12,100 per sq.ft, effective from 1 July 2024. This street falls under the Villivakkam SRO and is classified as Mixed Type - I land.

How the guideline value of East Main Road has changed

The guideline value for East Main Road has seen significant changes over the years. In the 2007 revision, the value was Rs 2,050 per sq.ft, which increased dramatically to Rs 11,000 per sq.ft in the 2012 revision, marking a rise of 437%. However, in the 2017 revision, the value dropped to Rs 7,370 per sq.ft, representing a decrease of 33%. The value then rose to Rs 11,000 per sq.ft in 2023, before reaching the current figure of Rs 12,100 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 490%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 3,800 per sq.ft, placing East Main Road's 2024 figure above this median.

• Elango Nagar: Rs 4,400 per sq.ft (2024)
• ELANGO NAGAR 1st STREET: Rs 4,400 per sq.ft (2024)
• ELANGO NAGAR 2nd STREET: Rs 4,400 per sq.ft (2024)
• ELANGO NAGAR 3rd STREET: Rs 4,400 per sq.ft (2024)
• Elango Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• ELANGO NAGAR MAIN ROAD (Moorthy Nagar Main Road): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in East Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value amounts to Rs 1,21,00,000. The stamp duty at 7% would be Rs 8,47,000, while the registration fee at 2% would be Rs 2,42,000, bringing the total cost for these fees to Rs 10,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers East Main Road?

The Sub Registrar Office covering East Main Road is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value is a critical factor when registering property transactions in Padi. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of a property.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the overall costs involved in the transaction. The higher the guideline value, the higher the stamp duty and registration fees will be, which buyers and sellers must factor into their financial planning.

Frequently asked questions

What is the current guideline value of East Main Road?

The current guideline value of East Main Road in Padi village is Rs 12,100 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 2,050 per sq.ft in 2007 to Rs 12,100 per sq.ft in 2024, showing an overall increase of 490%.

What is the land classification for East Main Road?

East Main Road is classified as Mixed Type - I land, according to the Villivakkam SRO guidelines.

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

For a property valued at Rs 1,21,00,000, the stamp duty would be Rs 8,47,000 and the registration fee would be Rs 2,42,000, totaling Rs 10,89,000.

Where is the Sub Registrar Office for East Main Road located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.