Guideline Value for ESWARAN KOVIL STREET

Eswaran Kovil Street guideline value

The current guideline value of Eswaran Kovil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - III.

How the guideline value of Eswaran Kovil Street has changed

The guideline value for Eswaran Kovil Street has undergone several revisions over the years. In 2002, the guideline value was Rs 146 per sq.ft, which increased to Rs 163 per sq.ft in 2003. This was followed by a significant rise to Rs 400 per sq.ft in 2007. The value then saw a substantial increase to Rs 1,500 per sq.ft in 2012, but it decreased to Rs 1,005 per sq.ft in 2017. The most recent revision in 2023 set the value at Rs 1,500 per sq.ft, which then increased to Rs 1,650 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,030%. The register has no figures for the years between these revisions.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, which means that Eswaran Kovil Street's 2024 figure is below that median.

• Emerald Enclave By Urban Tree: Rs 4,510 per sq.ft (2024)
• D.R.Salai: Rs 1,100 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 1,980 per sq.ft (2024)
• Dharmarajapuram Salai Road: Rs 1,100 per sq.ft (2024)
• Dharmarajapuram Main Road: Rs 1,100 per sq.ft (2024)
• Dharmarajapuram 3rd Lane: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Eswaran Kovil Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Eswaran Kovil Street?

The Sub Registrar Office that covers Eswaran Kovil Street is the Chennai South Joint I 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 Manapakkam

The guideline value is a crucial factor during the registration of property transactions in Manapakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers adhere to the legal requirements set forth by the registration authorities.

When buying or selling property, the guideline value helps to establish a minimum price for the transaction. This means that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the actual sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Eswaran Kovil Street?

The current guideline value of Eswaran Kovil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 146 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1,030% over the years.

What is the registration office for Eswaran Kovil Street?

The registration office for Eswaran Kovil Street is the Chennai South Joint I 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 Kovil Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500 based on the current guideline value.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the fees are calculated based on the higher of the guideline value or the actual sale price, promoting compliance with local regulations.