Guideline Value for Easwari Street

Easwari Street guideline value

The current guideline value of Easwari Street in Erukancherry village, under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Easwari Street has changed

The guideline value for Easwari Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has raised it to Rs 2,200 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, followed by a significant increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 shows an increase of 10% in the guideline value. The change from 2023 to 2024 reflects a 10% increase.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, making the 2024 guideline value for Easwari Street below this median.

• Elango Street: Rs 3,000 per sq.ft (2024)
• Dr. Radhakrishnan Road: Rs 3,300 per sq.ft (2024)
• Erukancherry High Road: Rs 3,800 per sq.ft (2024)
• Eswaran Koil Street: Rs 2,500 per sq.ft (2024)
• Dr. Ambedkar Street / Road: Rs 2,200 per sq.ft (2024)
• Eswari Nagar: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Easwari Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 Easwari Street?

The Sub Registrar Office that covers Easwari Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government regulations.

When buying or selling property, the guideline value impacts the stamp duty and registration fees that need to be paid. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Easwari Street?

The current guideline value of Easwari Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations for Easwari Street?

The Madhavaram Sub Registrar Office handles property registrations for Easwari Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration and impacts the stamp duty and registration fees. It ensures that the transaction is recorded at a fair value according to government regulations.