Guideline Value for EYARKAI NAGAR

Eyarkai Nagar guideline value

The current guideline value of Eyarkai Nagar is Rs 200 per sq.ft, effective from 1 July 2024. This area is located in Andavakkam village and falls under the Madurandakam SRO, classified as Residential Special Type - I.

How the guideline value of Eyarkai Nagar has changed

The guideline value for Eyarkai Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, where it was still Rs 200 per sq.ft. The 2017 revision recorded a lower value of Rs 134 per sq.ft, marking a decrease of 33% from the 2012 figure. Between the 2017 and 2023 revisions, the value increased by 49%, bringing it back to Rs 200 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 200 per sq.ft, indicating no change from the previous year. Notably, the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Andavakkam

In Andavakkam, there are seven streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 300 per sq.ft. Eyarkai Nagar's current value is above the median of Rs 150 per sq.ft.

• Eyarkkai Nagar Phase-I&ii: Rs 300 per sq.ft (2024)
• Royal Farms: Rs 100 per sq.ft (2024)
• Sri Ganesh Nagar: Rs 100 per sq.ft (2024)
• Sri Manoprabu Nagar: Rs 100 per sq.ft (2024)
• Sslf City Dr.Sakthivel Nagar: Rs 150 per sq.ft (2024)
• Victory Nagar Phase-I: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Eyarkai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty, charged at 7%, would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total cost for these fees to Rs 18,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Eyarkai Nagar?

The Eyarkai Nagar area is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Andavakkam. It serves as a benchmark for calculating the stamp duty and registration fees, which are mandatory for property transactions in the region.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. Buyers and sellers must be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Eyarkai Nagar?

The current guideline value of Eyarkai Nagar is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a notable decrease to Rs 134 per sq.ft in 2017, followed by a return to Rs 200 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What are the guideline values of other streets in Andavakkam?

Other streets in Andavakkam have varying guideline values, ranging from Rs 100 to Rs 300 per sq.ft. Eyarkai Nagar's value is above the median of Rs 150 per sq.ft.

What fees are associated with property transactions in Eyarkai Nagar?

When buying property in Eyarkai Nagar, buyers should consider the stamp duty at 7% and registration fee at 2% of the guideline value or sale price, whichever is higher. These fees can add a significant amount to the total cost of the transaction.

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

The Madurandakam Sub Registrar Office covers Eyarkai Nagar and is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.