Guideline Value for ESWARI NAGAR

Eswari Nagar guideline value

The current guideline value of Eswari Nagar, located in Arumbakkam village under the Kodambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class V Type - I.

How the guideline value of Eswari Nagar has changed

The guideline value for Eswari Nagar has undergone several revisions over the years. The earliest registered figure is from 2007, which was Rs 700 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a rise of 329%. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then increased again to Rs 3,000 per sq.ft in 2023, representing a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no registered figures for the years 2002 and 2003 for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 6,000 per sq.ft, placing Eswari Nagar's current value below that median.

• Flowers Road (Pookaran Street): Rs 6,000 per sq.ft (2024)
• Frends Avenue: Rs 6,000 per sq.ft (2024)
• Durga Street: Rs 5,500 per sq.ft (2024)
• Duraswamy Raja Street: Rs 5,500 per sq.ft (2024)
• Duraswamy Colony: Rs 6,000 per sq.ft (2024)
• Gandhi Nagar II Nd Street: Rs 5,300 per sq.ft (2024)

Stamp duty and registration fee for property in Eswari Nagar

For a property in Eswari Nagar measuring 1,000 sq.ft at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty is charged at 7%, amounting to Rs 2,31,000, while the registration fee is 2%, which totals Rs 66,000. Therefore, the combined total for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Eswari Nagar?

Eswari Nagar falls under the jurisdiction of the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees. Buyers must be aware that the guideline value can influence the overall cost of the transaction.

When a property is sold, the buyer is required to pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Eswari Nagar?

The current guideline value of Eswari Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 371% over the years.

What is the registration office for Eswari Nagar?

Eswari Nagar is covered by the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated in Eswari Nagar?

Stamp duty in Eswari Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

What are the guideline values of other streets in Arumbakkam?

Other streets in Arumbakkam have varying guideline values, with rates ranging from Rs 3,300 to Rs 16,500 per sq.ft. For example, Flowers Road and Frends Avenue both have a guideline value of Rs 6,000 per sq.ft as of 2024.