Guideline Value for EKAMBARAM STREET

Ekambaram Street guideline value

The current guideline value of Ekambaram Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Ekambaram Street has changed

The guideline value for Ekambaram Street has undergone several revisions since 2002. In 2002, the value was Rs 498 per sq.ft. This increased to Rs 554 per sq.ft in 2003, marking an 11% rise. The value saw a significant jump to Rs 900 per sq.ft in 2007, which was a 62% increase. The next revision in 2012 saw a drastic decrease to Rs 3,000 per sq.ft, a decline of 233%. However, from 2012 to 2017, the value dropped further to Rs 2,010 per sq.ft, a decrease of 33%. The most recent revision in 2024 brought the value back up to Rs 3,300 per sq.ft, marking a 64% increase from the 2017 figure.

It is important to note that there is no figure for Ekambaram Street in the 2023 revision. Overall, from 2002 to 2024, the guideline value has increased by 563%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, which means that the 2024 figure for Ekambaram Street is below that median.

• E Depot Street: Rs 3,300 per sq.ft (2024)
• E Depot Lane: Rs 3,300 per sq.ft (2024)
• Elephant Tank 1st Street: Rs 3,300 per sq.ft (2024)
• Elephant Tank 2nd Street: Rs 3,300 per sq.ft (2024)
• Elephant Tank 3rd Street: Rs 3,300 per sq.ft (2024)
• Elephant Tank 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ekambaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total fees would be Rs 2,97,000. It is important to note that 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 more detailed calculations.

Which Sub Registrar Office covers Ekambaram Street?

Ekambaram Street falls under the jurisdiction of the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Mylapore, as it determines the minimum value at which properties can be registered. When a buyer and seller agree on a sale price, the higher of the sale price and the guideline value is used to calculate the stamp duty and registration fees.

This ensures that the state government receives the appropriate revenue from property transactions. Buyers should be aware of the guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value of Ekambaram Street?

The current guideline value of Ekambaram Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased significantly, from Rs 498 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 563%.

What is the land classification of Ekambaram Street?

Ekambaram Street is classified as Residential Class V Type - III, which indicates its intended use for residential purposes.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Ekambaram Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at a rate of 7%.