Guideline Value for EAST MAIN ROAD

East Main Road guideline value

The current guideline value of East Main Road, located in Villivakkam village under the Villivakkam SRO, is Rs 12,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of East Main Road has changed

Over the years, the guideline value of East Main Road has seen several revisions. The earliest recorded figure is from 2007 at Rs 9,000 per sq.ft, which increased to Rs 11,000 per sq.ft in 2012, marking a rise of 22%. However, this value dropped to Rs 7,370 per sq.ft in 2017, a decrease of 33%. The value then significantly increased to Rs 11,000 per sq.ft in 2023, reflecting a 49% rise. The latest revision in 2024 shows a further increase to Rs 12,100 per sq.ft, which is a 10% rise from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 34%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a guideline value for 2024, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median value is Rs 4,900 per sq.ft, and East Main Road's 2024 figure is above this median.

• Embar Naidu 1st Lane: Rs 2,200 per sq.ft (2024)
• Embar Naidu 1st Street: Rs 2,200 per sq.ft (2024)
• Embar Naidu 2nd Lane: Rs 2,200 per sq.ft (2024)
• Embar Naidu 2nd Street: Rs 2,200 per sq.ft (2024)
• Embar Naidu 3rd Lane: Rs 2,200 per sq.ft (2024)
• Embar Naidu Lane: Rs 2,200 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 is charged at 7%, which totals Rs 8,47,000, and the registration fee at 2% amounts to Rs 2,42,000. Together, these fees total Rs 10,89,000. 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 further assistance.

Which Sub Registrar Office covers East Main Road?

The Sub Registrar Office that covers 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. You can find your SRO for more information.

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

The guideline value is an important factor during property transactions in Villivakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value affects the stamp duty and registration fees payable at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. 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 Main Road?

The current guideline value of East Main Road 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 from Rs 9,000 per sq.ft in 2007 to Rs 12,100 per sq.ft in 2024, reflecting an overall increase of 34% over the years.

What is the land classification for East Main Road?

East Main Road is classified as Residential Class I Type - II, indicating its suitability for residential development.

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

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

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

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