Guideline Value for EZHIL NAGAR

Ezhil Nagar guideline value

The current guideline value of Ezhil Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This locality is part of the Sholinganallur - 1 village under the Neelankarai SRO and is classified as Residential Class II Type - I.

How the guideline value of Ezhil Nagar has changed

The guideline value for Ezhil Nagar has seen significant changes over the years. In the 2017 revision, the value was Rs 2,010 per sq.ft. This increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a guideline value range from Rs 1,000 to Rs 8,800 per sq.ft. The median value is Rs 2,200 per sq.ft, making Ezhil Nagar's 2024 figure of Rs 3,300 per sq.ft above the median.

• Fae Nagar: Rs 3,300 per sq.ft (2024)
• Eswaran Koil Main Street: Rs 2,200 per sq.ft (2024)
• Eswaran Koil Cross Street: Rs 2,200 per sq.ft (2024)
• Eswaran Koil 2nd Street: Rs 2,200 per sq.ft (2024)
• Eswaran Koil 1st Street: Rs 2,200 per sq.ft (2024)
• Erikarai Salai: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ezhil Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ezhil Nagar?

The Sub Registrar Office that covers Ezhil Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor when buying or selling property in Sholinganallur - 1. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. This ensures that both parties are aware of the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Ezhil Nagar?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,010 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty and registration fees for Ezhil Nagar?

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Ezhil Nagar?

The Neelankarai Sub Registrar Office covers Ezhil Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification of Ezhil Nagar?

Ezhil Nagar is classified as Residential Class II Type - I, indicating its designation for residential use under local regulations.