Guideline Value for ESWARAN KOIL STREET

Eswaran Koil Street guideline value

The current guideline value of Eswaran Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Eswaran Koil Street has changed

The guideline value for Eswaran Koil Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 245 per sq.ft. This increased to Rs 304 per sq.ft in 2003, marking a 24% rise. The value then saw significant increases, reaching Rs 900 per sq.ft in 2007, which is a 196% increase from 2003. In 2012, the value was recorded again at Rs 2,500 per sq.ft, reflecting a 178% increase from 2007, but a decrease of 33% from the previous figure in 2017.

In 2017, the guideline value increased to Rs 1,675 per sq.ft, which was a 49% increase from the 2012 figure. Following this, the value rose to Rs 2,500 per sq.ft in 2023, and finally, it reached Rs 2,750 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. There are no figures available for the revisions in years not mentioned in the register.

Guideline values in Ramapuram

In Ramapuram village, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 3,100 per sq.ft, placing Eswaran Koil Street's 2024 figure below this median.

• Eswaran Nagar: Rs 3,100 per sq.ft (2024)
• Eswaran Nagar 1st Main Street: Rs 3,100 per sq.ft (2024)
• Eswaran Nagar 1st Street: Rs 3,100 per sq.ft (2024)
• Eswaran Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• Eswaran Nagar 3rd Street: Rs 3,100 per sq.ft (2024)
• Eswaran Nagar 4th Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Eswaran Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. 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 details.

Which Sub Registrar Office covers Eswaran Koil Street?

The Sub Registrar Office covering Eswaran Koil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Ramapuram. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is often a key factor in the financial aspects of property transactions.

When a property is sold, the guideline value is compared to the sale price, and the duty is charged on whichever amount is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Eswaran Koil Street?

The current guideline value of Eswaran Koil Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 245 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting a cumulative increase of 1,022% over the years.

What is the registration office for Eswaran Koil Street?

The registration office for Eswaran Koil Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

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

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

How does the guideline value affect property transactions in Ramapuram?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to understand how it impacts the financial aspects of buying or selling property in Ramapuram.