Guideline Value for Edapalayam Road

Edapalayam Road guideline value

The current guideline value of Edapalayam Road in Alamathi village is Rs 990 per sq.ft, effective from 1 July 2024. This road falls under the Redhills SRO and is classified as Residential Special Type - II.

How the guideline value of Edapalayam Road has changed

Over the years, the guideline value of Edapalayam Road has seen significant changes. The earliest recorded figure in 2003 was Rs 19 per sq.ft. This value increased drastically to Rs 200 per sq.ft in 2007, reflecting a growth of 953%. By 2012, the figure rose to Rs 900 per sq.ft, marking a 350% increase from the previous revision. However, in 2017, the value dropped to Rs 603 per sq.ft, a decrease of 33%. The guideline value then increased to Rs 900 per sq.ft in 2023, followed by a further rise to Rs 990 per sq.ft in 2024, representing a 10% increase.

In summary, from 2003 to 2024, the overall increase in guideline value has been remarkable, reaching Rs 990 per sq.ft, which is a total growth of 5111% over the two decades. The register has no figure for the year 2002 for this street.

Guideline values in Alamathi

In Alamathi, there are 54 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,100 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value for Edapalayam Road is above this median.

• Export Tayloring Employees Co-operative Society Co: Rs 550 per sq.ft (2024)
• Grant City: Rs 990 per sq.ft (2024)
• B.K. Garden: Rs 550 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 550 per sq.ft (2024)
• Bharathiar Street: Rs 990 per sq.ft (2024)
• Bhajanai Koil Street: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Edapalayam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total cost for these fees Rs 89,100. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Edapalayam Road?

The Sub Registrar Office that covers Edapalayam Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Alamathi, 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 stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Additionally, the guideline value helps in establishing a transparent pricing mechanism for properties in the area. It ensures that both buyers and sellers are aware of the value assigned to a property, which aids in fair negotiations during the sale process.

Frequently asked questions

What is the current guideline value of Edapalayam Road?

The current guideline value of Edapalayam Road is Rs 990 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 19 per sq.ft in 2003 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 5111% over the years.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which office handles property registrations for Edapalayam Road?

The Redhills Sub Registrar Office handles property registrations for Edapalayam Road, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Edapalayam Road?

Edapalayam Road is classified as Residential Special Type - II, indicating its intended use for residential purposes.