Guideline Value for Easwaran Koil 1st Cross Street

Easwaran Koil 1st Cross Street guideline value

The current guideline value of Easwaran Koil 1st Cross Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Easwaran Koil 1st Cross Street has changed

The guideline value of Easwaran Koil 1st Cross Street has seen significant changes over the years. In the 2017 revision, the value was Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase 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 in the register for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value for this village is Rs 2,750 per sq.ft, placing the 2024 figure for Easwaran Koil 1st Cross Street above this median.

• Easwaran Koil 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Easwaran Koil 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Easwaran Koil Cross Street: Rs 3,300 per sq.ft (2024)
• Easwaran Koil Main Road: Rs 3,300 per sq.ft (2024)
• Easwaran Koil Street: Rs 3,300 per sq.ft (2024)
• East Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Easwaran Koil 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost together to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Easwaran Koil 1st Cross Street?

The Easwaran Koil 1st Cross Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the sale price cannot be lower than the guideline value. This means that buyers and sellers must consider the guideline value when negotiating a sale to ensure compliance with legal requirements during registration.

Frequently asked questions

What is the current guideline value of Easwaran Koil 1st Cross Street?

The current guideline value of Easwaran Koil 1st Cross 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 increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 64% over these years.

What is the stamp duty for properties in Easwaran Koil 1st Cross Street?

The stamp duty for properties in Easwaran Koil 1st Cross Street is 7% of the guideline value or sale price, whichever is higher.

Which office handles registrations for Easwaran Koil 1st Cross Street?

The Velacheri Sub Registrar Office handles registrations for Easwaran Koil 1st Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft, with Easwaran Koil 1st Cross Street's 2024 figure being above this median.