Guideline Value for ETHIRAJ STREET

Ethiraj Street guideline value

The current guideline value of Ethiraj Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Ethiraj Street has changed

The guideline value for Ethiraj Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which reduced it to Rs 1,675 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 2,500 per sq.ft in the 2023 revision, followed by the current revision in 2024, which raised it to Rs 2,750 per sq.ft, reflecting a 10% increase.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, comparing the 2012 and 2024 revisions, there has been a modest increase of 10% in the guideline value.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that Ethiraj Street's 2024 figure is below this median.

• Ethiraj Colony: Rs 3,300 per sq.ft (2024)
• Evr Periyar Street: Rs 3,300 per sq.ft (2024)
• E.S.I Colony: Rs 3,520 per sq.ft (2024)
• Erikarai Street: Rs 2,750 per sq.ft (2024)
• Erikarai Ora Street: Rs 3,300 per sq.ft (2024)
• Erattai Malai Srinivasan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ethiraj Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ethiraj Street?

The Sub Registrar Office that covers Ethiraj Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is in compliance with state regulations.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the correct amount of duty during the registration process.

Frequently asked questions

What is the current guideline value of Ethiraj Street?

The current guideline value of Ethiraj Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017. It then increased to Rs 2,500 per sq.ft in 2023 and is currently Rs 2,750 per sq.ft as of 2024.

What is the land classification of Ethiraj Street?

Ethiraj Street is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

What are the other streets in Zaminpallavaram?

Other streets in Zaminpallavaram include Ethiraj Colony, Evr Periyar Street, E.S.I Colony, Erikarai Street, Erikarai Ora Street, and Erattai Malai Srinivasan Street, each with their respective guideline values.

Where is the Sub Registrar Office for Ethiraj Street located?

The Sub Registrar Office for Ethiraj Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.