Guideline Value for Egathamman Street

Egathamman Street guideline value

The current guideline value of Egathamman Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the Virugambakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Egathamman Street has changed

The guideline value for Egathamman Street has seen significant changes over the years. In the 2007 revision, the value was Rs 650 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in the 2012 revision, marking a rise of 362%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, reflecting a 10% increase from the 2012 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 408%. It is important to note that the register does not contain figures for the years 2002, 2003, 2017, and 2023 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, indicating that Egathamman Street's 2024 figure is below this median.

• East Kamakodi nagar main road: Rs 4,400 per sq.ft (2024)
• East Kamakodi Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• East Kamakodi Nagar 4th Cross Street: Rs 4,400 per sq.ft (2024)
• East Kamakodi Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• East Kamakodi Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• East kamakodi Nagar 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Egathamman 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 fees together to Rs 2,97,000. It is important to note that the 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 Egathamman Street?

The Sub Registrar Office covering Egathamman Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller must consider the guideline value, as it influences the overall costs involved in the transaction. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Egathamman Street?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 650 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 408%.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office handles transactions for Egathamman Street?

The Virugambakkam Sub Registrar Office handles transactions for Egathamman Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Valasaravakkam?

The median guideline value for streets in Valasaravakkam is Rs 3,850 per sq.ft, which is above the current guideline value of Egathamman Street.