Guideline Value for EASWARI NAGAR

Easwari Nagar guideline value

The current guideline value of Easwari Nagar, located in Enjambakkam village, under the Neelankarai SRO, is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Easwari Nagar has changed

The guideline value for Easwari Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 1,042 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, it then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value rose significantly to Rs 2,500 per sq.ft in 2023, and most recently, it has been revised to Rs 2,800 per sq.ft in 2024. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 12%. Overall, from 2007 to 2024, there has been a substantial increase of 169% in the guideline value.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Easwari Nagar's 2024 figure above this median.

• East Coast Road: Rs 7,200 per sq.ft (2024)
• Ellaiamman Koil Street: Rs 2,200 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)
• Enjambakkam Meenavar Part: Rs 1,700 per sq.ft (2024)
• Enjambakkam To Vettuvankeni Joint Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Easwari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, resulting in a total of Rs 2,52,000. It is important to note that 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 information.

Which Sub Registrar Office covers Easwari Nagar?

The Sub Registrar Office that covers Easwari Nagar 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 further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Enjambakkam. It is used to determine the stamp duty and registration fees that are applicable, ensuring that the transaction is recorded accurately and legally.

When a property is sold, the buyer must pay the stamp duty 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 Easwari Nagar?

The current guideline value of Easwari Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,042 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, marking an overall increase of 169% over this period.

What is the land classification of Easwari Nagar?

Easwari Nagar is classified as Residential Class II Type - I, which indicates its designation for residential purposes.

What are the stamp duty rates for property transactions?

The stamp duty rate is currently set at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where can I find the Neelankarai Sub Registrar Office?

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