Guideline Value for ESWARAN NAGAR

Eswaran Nagar guideline value

The current guideline value of Eswaran Nagar, located in Ramapuram village, is Rs 3,100 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint II SRO and is classified as Residential Class II Type - I.

How the guideline value of Eswaran Nagar has changed

The guideline value for Eswaran Nagar has seen significant changes over the years. In 2002, the guideline value was Rs 245 per sq.ft. This increased to Rs 304 per sq.ft in 2003, followed by a substantial rise to Rs 900 per sq.ft in 2007. The value then jumped to Rs 2,800 per sq.ft in 2012, but saw a decrease to Rs 1,876 per sq.ft in 2017. Following this, the value increased to Rs 2,800 per sq.ft in 2023, and most recently, it has risen to Rs 3,100 per sq.ft in 2024.

Between these revisions, the most notable changes include a 211% increase from 2007 to 2012, and a 49% increase from 2017 to 2023. The overall increase from 2002 to 2024 is a remarkable 1165%. There are no figures available for any other years for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, which is the same as the guideline value for Eswaran Nagar.

• 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)
• Eswaran Koil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Eswaran Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, totaling Rs 2,79,000. The 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 Nagar?

The Sub Registrar Office that covers Eswaran Nagar 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 during the registration of property transactions in Ramapuram. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers should be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Eswaran Nagar?

The current guideline value of Eswaran Nagar is Rs 3,100 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 3,100 per sq.ft in 2024, reflecting an overall increase of 1165% over this period.

What are the other streets with the same guideline value in Ramapuram?

Other streets in Ramapuram with the same guideline value of Rs 3,100 per sq.ft include Eswaran Nagar 1st Main Street, Eswaran Nagar 1st Street, Eswaran Nagar 2nd Street, Eswaran Nagar 3rd Street, and Eswaran Nagar 4th Street.

What is the stamp duty for property in Eswaran Nagar?

The stamp duty for property in Eswaran Nagar is calculated at 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the stamp duty would be Rs 2,17,000.

Where can I find the Sub Registrar Office for Eswaran Nagar?

The Sub Registrar Office for Eswaran Nagar 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.