Guideline Value for ETHIRAJ GARDEN LANE

Ethiraj Garden Lane guideline value

The current guideline value of Ethiraj Garden Lane is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Ethiraj Garden Lane has changed

Looking back at the revisions, the guideline value for Ethiraj Garden Lane was Rs 1,800 per sq.ft in 2007. It then increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 150%. However, it dropped to Rs 3,015 per sq.ft in 2017, which was a decrease of 33%. The value then rose again to Rs 4,500 per sq.ft in 2023, reflecting a substantial increase of 49%. The most recent revision in 2024 has set the value at Rs 4,900 per sq.ft, a 9% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 172%.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, placing Ethiraj Garden Lane's 2024 figure below the median.

• Ethiraj Garden Street: Rs 4,900 per sq.ft (2024)
• E.V.K Sampath Street (A) Rundalls Road Part: Rs 14,300 per sq.ft (2024)
• E.S.I. Hospital Staff Quarters: Rs 2,200 per sq.ft (2024)
• Erron Street: Rs 5,500 per sq.ft (2024)
• E.V.R. Periyar 1st Lane: Rs 13,200 per sq.ft (2024)
• E.V.R. Periyar 2nd Lane: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ethiraj Garden Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ethiraj Garden Lane?

The Sub Registrar Office covering Ethiraj Garden Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Purasaivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the property is not sold below this value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller comply with the legal requirements set by the state government during the registration process.

Frequently asked questions

What is the current guideline value of Ethiraj Garden Lane?

The current guideline value of Ethiraj Garden Lane is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 1,800 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 172%.

What are the registration fees for property in Ethiraj Garden Lane?

The registration fees for property in Ethiraj Garden Lane include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ethiraj Garden Lane?

The Sub Registrar Office for Ethiraj Garden Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for Ethiraj Garden Lane?

Ethiraj Garden Lane is classified as Residential Class III Type - II, which indicates its suitability for residential purposes.