Guideline Value for East Park Road

East Park Road guideline value

The current guideline value of East Park Road is Rs 14,300 per sq.ft, effective from 1 July 2024. This road is located in Aminjikarai village, under the AnnaNagar SRO, and is classified as Residential Special Type - I.

How the guideline value of East Park Road has changed

Since the 2002 revision, the guideline value for East Park Road has seen significant changes. The value started at Rs 1,069 per sq.ft in 2002, increased to Rs 2,000 per sq.ft in 2007, then rose sharply by 550% to reach Rs 13,000 per sq.ft in 2012. However, it decreased by 33% to Rs 8,710 per sq.ft in 2017. The value then increased by 49% to Rs 13,000 per sq.ft in 2023, and finally, it rose by 10% to the current value of Rs 14,300 per sq.ft in 2024. There is no figure available for this street in the 2003 revision.

Overall, from 2002 to 2024, the guideline value has increased by 1238%. The changes in the values reflect various factors that influence property prices over the years.

Guideline values in Aminjikarai

Aminjikarai has a range of guideline values across its 99 streets under the AnnaNagar SRO, with rates varying from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for the area is Rs 4,400 per sq.ft, positioning East Park Road's 2024 figure above this median.

• East Mada Street: Rs 4,400 per sq.ft (2024)
• East Mada Lane: Rs 4,400 per sq.ft (2024)
• East Club Road: Rs 14,300 per sq.ft (2024)
• East Arasamaram Street: Rs 4,400 per sq.ft (2024)
• Gajalakshmi Colony: Rs 5,500 per sq.ft (2024)
• Gajapathy Lane: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in East Park Road

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value would be Rs 1,43,00,000. The stamp duty at 7% would amount to Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total to Rs 12,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers East Park Road?

The Sub Registrar Office that covers East Park Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Aminjikarai, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

During the registration process, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of East Park Road?

The current guideline value of East Park Road is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,069 per sq.ft in 2002 to Rs 14,300 per sq.ft in 2024, reflecting an overall increase of 1238% over this period.

What is the land classification of East Park Road?

East Park Road is classified as Residential Special Type - I under the AnnaNagar SRO.

Where is the Sub Registrar Office for East Park Road located?

The Sub Registrar Office for East Park Road is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property in East Park Road?

Stamp duty for property in East Park Road is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 10,01,000.