Guideline Value for Easwari Main Road

Easwari Main Road guideline value

The current guideline value of Easwari Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This road is located in Issa Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Easwari Main Road has changed

The guideline value for Easwari Main Road has seen several revisions over the years. In 2003, the value was Rs 875 per sq.ft, which increased to Rs 900 per sq.ft in 2007. The 2012 revision saw a significant jump to Rs 3,500 per sq.ft, but then it decreased to Rs 2,345 per sq.ft in 2017. The value rose again to Rs 3,500 per sq.ft in 2023, and finally, it reached Rs 3,850 per sq.ft in the 2024 revision. Notably, the register has no figure for this street in 2002.

Between the revisions, the changes were as follows: from 2003 to 2007, there was an increase of 3%. The value surged by 289% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023 and finally rose by 10% from 2023 to 2024. Overall, from 2003 to 2024, the guideline value has increased by 340%.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Rs 3,850 per sq.ft for Easwari Main Road is above this median.

• Easwari Main Cross Road: Rs 3,300 per sq.ft (2024)
• Elumalai Street: Rs 3,300 per sq.ft (2024)
• Fathima Manzal Street: Rs 2,200 per sq.ft (2024)
• Dharga Road (PART): Rs 3,850 per sq.ft (2024)
• Gandhi Street: Rs 3,300 per sq.ft (2024)
• Ganesan Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Easwari Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value would be Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Easwari Main Road?

The Sub Registrar Office that covers Easwari Main Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Issa Pallavaram. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Easwari Main Road?

The current guideline value of Easwari Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Easwari Main Road?

Easwari Main Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Easwari Main Road?

The Sub Registrar Office for Easwari Main Road is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is compared to the sale price, and the higher value is used for calculating the applicable duties.