Guideline Value for EK AVENUES

Ek Avenues guideline value

The current guideline value of Ek Avenues in Erumaiyur village, under the Padappai SRO, is Rs 2,630 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of Ek Avenues has changed

In the 2017 revision, the guideline value was Rs 1,600 per sq.ft. This figure increased to Rs 2,389 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 2,630 per sq.ft, which is a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Erumaiyur

Erumaiyur village has a total of 21 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value for the village is Rs 940 per sq.ft, and the guideline value for Ek Avenues is above this median.

• Dhargas Road: Rs 940 per sq.ft (2024)
• Ganesh Nagar: Rs 550 per sq.ft (2024)
• GR Nagar and Extn: Rs 940 per sq.ft (2024)
• Indhra Gandhi Street: Rs 550 per sq.ft (2024)
• Bharathi Nagar: Rs 550 per sq.ft (2024)
• Keerthi Nagar: Rs 940 per sq.ft (2024)

Stamp duty and registration fee for property in Ek Avenues

For a 1,000 sq.ft plot at the current guideline value of Rs 2,630 per sq.ft, the total guideline value amounts to Rs 26,30,000. The stamp duty at 7% would be Rs 1,84,100, and the registration fee at 2% would be Rs 52,600, leading to a total cost of Rs 2,36,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ek Avenues?

The Sub Registrar Office that covers Ek Avenues is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Erumaiyur, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with legal requirements.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ek Avenues?

The current guideline value of Ek Avenues is Rs 2,630 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,600 per sq.ft to Rs 2,630 per sq.ft in 2024, marking an overall increase of 64%.

What is the registration office for Ek Avenues?

The registration office for Ek Avenues is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Ek Avenues?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,84,100.

What are the other streets in Erumaiyur with their guideline values?

Other streets in Erumaiyur include Dhargas Road at Rs 940 per sq.ft, Ganesh Nagar at Rs 550 per sq.ft, and several others, with values ranging from Rs 550 to Rs 940 per sq.ft.