Guideline Value for Eashwari Street

Eashwari Street guideline value

The current guideline value of Eashwari Street in Nesapakkam village, under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class II Type - I.

How the guideline value of Eashwari Street has changed

The guideline value for Eashwari Street has seen several revisions over the years. In 2002, the guideline value was Rs 119 per sq.ft. This increased to Rs 131 per sq.ft in 2003, marking a 10% rise. The value then experienced a significant jump to Rs 325 per sq.ft in 2007, which was an increase of 148%. Following this, the value surged to Rs 3,000 per sq.ft in 2012, reflecting an increase of 823%. However, it dropped to Rs 2,010 per sq.ft in 2017, showing a decrease of 33%. In 2023, the value was revised to Rs 3,000 per sq.ft, and it has now increased to Rs 3,300 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2,673%. The register has no figure for Eashwari Street for the years not mentioned in the provided data.

Guideline values in Nesapakkam

Nesapakkam has 148 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current value of Eashwari Street.

• Dr. Khanu Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 9th Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 8th Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 8th Cross Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 7th Street: Rs 2,200 per sq.ft (2024)
• Dr. Khanu Nagar 7th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Eashwari Street

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, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Eashwari Street?

The Sub Registrar Office that covers Eashwari Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nesapakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is officially recorded at a fair value.

When a property is sold, the buyer and seller must consider the guideline value as it affects the overall cost of the transaction. The higher the guideline value, the greater the fees associated with the registration process, which can influence the final sale price agreed upon by both parties.

Frequently asked questions

What is the current guideline value of Eashwari Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 119 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 2,673% over this period.

What is the land classification for Eashwari Street?

Eashwari Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Eashwari Street?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

Which office handles property registrations for Eashwari Street?

The Virugambakkam Sub Registrar Office handles property registrations for Eashwari Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.