Guideline Value for Easwaran Koil Street/Annai Theresa Nagar

Easwaran Koil Street/Annai Theresa Nagar guideline value

The current guideline value of Easwaran Koil Street/Annai Theresa Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village under the Velacheri SRO and is classified as Residential Class I Type - II.

How the guideline value of Easwaran Koil Street/Annai Theresa Nagar has changed

Over the years, the guideline value for Easwaran Koil Street has seen several revisions. In 2017, the guideline value was Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

The register does not provide figures for the years 2002, 2003, 2007, and 2012 for this street. Thus, we only have the figures from the 2017, 2023, and 2024 revisions to consider, showing a significant increase in value over these years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, making the current value of Rs 3,300 per sq.ft for Easwaran Koil Street above the median.

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

Stamp duty and registration fee for property in Easwaran Koil Street/Annai Theresa Nagar

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 for these fees 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 Street/Annai Theresa Nagar?

The Easwaran Koil Street/Annai Theresa Nagar area 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 critical factor when buying or selling property, as it determines the minimum value at which a property can be registered. Buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions set by the government. This process helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Easwaran Koil Street?

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

How much has the guideline value changed over the years?

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

What is the stamp duty rate for properties in this area?

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

Which office handles property registrations in this area?

The Velacheri Sub Registrar Office handles property registrations for Easwaran Koil Street/Annai Theresa Nagar, 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 Street's value of Rs 3,300 per sq.ft being above this median.