Guideline Value for ETHIRAJ GARDEN STREET

Ethiraj Garden Street guideline value

The current guideline value of Ethiraj Garden Street 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 Street has changed

The guideline value for Ethiraj Garden Street has undergone several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased to Rs 4,500 per sq.ft in 2012. However, this figure saw a decrease of 33% to Rs 3,015 per sq.ft in 2017. The value then rose significantly to Rs 4,500 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 4,900 per sq.ft, marking a 9% increase from the previous year.

There are no figures available in the register 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 that have a 2024 guideline value ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value is Rs 5,500 per sq.ft, placing Ethiraj Garden Street's 2024 figure below that median.

• Ethiraj Garden Lane: 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)
• 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)
• Erron Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ethiraj Garden Street

For a 1,000 sq.ft plot at the current rate of Rs 4,900 per sq.ft, the guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ethiraj Garden Street?

The Sub Registrar Office that covers Ethiraj Garden Street 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 the registration process of property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

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

Frequently asked questions

What is the current guideline value of Ethiraj Garden Street?

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

How has the guideline value changed over the years?

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

What is the land classification for Ethiraj Garden Street?

Ethiraj Garden Street is classified as Residential Class III Type - II.

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

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

How is the stamp duty calculated for properties in Purasaivakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 49,00,000 would incur a stamp duty of Rs 3,43,000 at 7%.