Guideline Value for EKATHAMMAN AVENUE

Ekathamman Avenue guideline value

The current guideline value of Ekathamman Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Puzhal village, under the Redhills SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ekathamman Avenue has changed

The guideline value for Ekathamman Avenue has seen several revisions over the years. In 2012, the guideline value was Rs 800 per sq.ft. This figure decreased by 33% to Rs 536 per sq.ft in 2017. Following this, the value experienced a significant increase of 87%, reaching Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 raised the value by 10% to Rs 1,100 per sq.ft.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 38%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 1,102 per sq.ft, placing Ekathamman Avenue's 2024 figure slightly below this median.

• Erattamalai Srinivasan Street: Rs 1,100 per sq.ft (2024)
• Eswaran Nagar: Rs 1,102 per sq.ft (2024)
• Eswari Nagar: Rs 1,102 per sq.ft (2024)
• Ethirajammal Avenue: Rs 2,420 per sq.ft (2024)
• E.T.S. Nagar: Rs 1,102 per sq.ft (2024)
• Gandhi Main Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ekathamman Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Ekathamman Avenue?

Ekathamman Avenue is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Puzhal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two amounts. This ensures that the government receives the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Ekathamman Avenue?

The current guideline value of Ekathamman Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the land classification of Ekathamman Avenue?

Ekathamman Avenue is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Ekathamman Avenue?

The Sub Registrar Office covering Ekathamman Avenue is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Puzhal?

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