Guideline Value for EKAMBARAM STREET

Ekambaram Street guideline value

The current guideline value of Ekambaram Street is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in the Sholinganallur - 1 village, under the Neelankarai SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Ekambaram Street has changed

The guideline value for Ekambaram Street has seen several revisions over the years. In 2017, the value was set at Rs 1,675 per sq.ft. This increased to Rs 2,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,800 per sq.ft, which represents a 12% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has risen by 67%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In the Sholinganallur - 1 village, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Ekambaram Street's 2024 figure above this median.

• Ela Rajamanickam Street: Rs 2,200 per sq.ft (2024)
• Elcot Avenue 1st Street: Rs 5,000 per sq.ft (2024)
• Elcot Avenue Main Road: Rs 5,000 per sq.ft (2024)
• Elcot Avenue Main Street Extension: Rs 5,000 per sq.ft (2024)
• Ellammal Thottam: Rs 1,700 per sq.ft (2024)
• Ellen Sharma School 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 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty is charged at 7%, resulting in Rs 1,96,000, while the registration fee at 2% amounts to Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ekambaram Street?

Ekambaram Street falls under 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 more information.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor during the registration of property transactions in Sholinganallur - 1. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property, and it is essential for both buyers and sellers to be aware of these values to avoid any discrepancies 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 2,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since 2017, the guideline value has increased from Rs 1,675 per sq.ft to Rs 2,800 per sq.ft in 2024, marking an overall increase of 67% over this period.

What are the stamp duty and registration fees for property in Ekambaram Street?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees total Rs 2,52,000.

Which Sub Registrar Office covers Ekambaram Street?

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

What is the land classification of Ekambaram Street?

Ekambaram Street falls under the Residential Class II Type - II land classification, indicating its suitability for residential purposes.