Guideline Value for ECR New Street

ECR New Street guideline value

The current guideline value of ECR New Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kottivakkam village under the Adayar SRO and is classified as Commercial Class I Type - II.

How the guideline value of ECR New Street has changed

The guideline value for ECR New Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, an increase from Rs 5,000 per sq.ft in 2023, marking a change of +10%. Prior to that, the value was Rs 3,350 per sq.ft in 2017, which represents a significant increase of +49% over the six-year span.

In earlier revisions, the value was Rs 5,000 per sq.ft in 2012, which was a decrease of -33% from the 2017 figure. There are no recorded guideline values for ECR New Street in the years 2002, 2003, and 2007, as the register has no figure for this street in those years. Overall, from 2012 to 2024, the guideline value has increased by +10%.

Guideline values in Kottivakkam

In Kottivakkam, there are 284 streets under the Adayar SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median guideline value for the village is Rs 3,900 per sq.ft, placing ECR New Street's 2024 figure above this median.

• Elango Nagar: Rs 3,300 per sq.ft (2024)
• Elango Nagar Canal Road: Rs 1,700 per sq.ft (2024)
• East Coast Road: Rs 5,500 per sq.ft (2024)
• Gandhi Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Gandhi Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in ECR New Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, resulting in a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers ECR New Street?

The ECR New Street falls under the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kottivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of ECR New Street?

The current guideline value of ECR New Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2023 to Rs 5,500 per sq.ft in 2024, and from Rs 3,350 per sq.ft in 2017 to Rs 5,000 per sq.ft in 2023. There are no recorded figures for the years 2002, 2003, and 2007.

What is the land classification of ECR New Street?

ECR New Street is classified as Commercial Class I Type - II, indicating its use for commercial purposes.

Where can I find the Adayar Sub Registrar Office?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Kottivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value or sale price.