Guideline Value for EZHIL NAGAR

Ezhil Nagar guideline value

The current guideline value of Ezhil Nagar, located in Venkatapuram village under the Chengleput Joint II SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Ezhil Nagar has changed

Over the years, the guideline value for Ezhil Nagar has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged in the subsequent 2017 revision. However, the 2017 revision marked a decrease from Rs 500 to Rs 335 per sq.ft, a change of -33%. The 2023 revision brought the value back to Rs 500 per sq.ft, which remained consistent through to the 2024 revision, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 500 per sq.ft. Overall, from the 2012 revision to the 2024 revision, the guideline value has not changed, remaining at Rs 500 per sq.ft.

Guideline values in Venkatapuram

In Venkatapuram, there are 29 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 400 per sq.ft, positioning Ezhil Nagar's 2024 figure above that median.

• Ganapathy Nagar Colony: Rs 400 per sq.ft (2024)
• Ganapathy Syndicate: Rs 400 per sq.ft (2024)
• Divya Nagar: Rs 400 per sq.ft (2024)
• Azhagiri Nagar: Rs 500 per sq.ft (2024)
• Kaveri Nagar: Rs 400 per sq.ft (2024)
• K.K.Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Ezhil Nagar

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ezhil Nagar?

Ezhil Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Venkatapuram. It serves as the minimum value for which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps determine the applicable fees and taxes. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Ezhil Nagar?

The current guideline value of Ezhil Nagar is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a decrease to Rs 335 per sq.ft in 2017, followed by a return to Rs 500 per sq.ft in 2023 and 2024.

What is the land classification for Ezhil Nagar?

Ezhil Nagar is classified as Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which Sub Registrar Office covers Ezhil Nagar?

The Chengleput Joint II Sub Registrar Office covers Ezhil Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.