Guideline Value for Ekambara Naicken Street

Ekambara Naicken Street guideline value

The current guideline value of Ekambara Naicken Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village, under the Chennai South Joint II SRO, and is classified as Residential Class II Type - II.

How the guideline value of Ekambara Naicken Street has changed

The guideline value for Ekambara Naicken Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,500 per sq.ft. This figure then decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly in the 2023 revision to Rs 2,500 per sq.ft, and further rose to Rs 2,750 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 3,100 per sq.ft, which means that Ekambara Naicken Street's current 2024 figure is below that median.

• Ellammal Nagar: Rs 3,100 per sq.ft (2024)
• Elumalai Street: Rs 3,100 per sq.ft (2024)
• Eswaran Koil Street: Rs 2,750 per sq.ft (2024)
• Eswaran Nagar: Rs 3,100 per sq.ft (2024)
• Eswaran Nagar 1st Main Street: Rs 3,100 per sq.ft (2024)
• Eswaran Nagar 1st Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ekambara Naicken Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the 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 Ekambara Naicken Street?

Ekambara Naicken Street falls under the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Ramapuram, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements and to accurately calculate the costs involved in the transaction.

When a property is bought or sold, the guideline value serves as a benchmark for the transaction price. It ensures that the property is registered at a value that reflects its worth according to government standards, helping to maintain transparency and fairness in real estate dealings.

Frequently asked questions

What is the current guideline value of Ekambara Naicken Street?

The current guideline value of Ekambara Naicken Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Ekambara Naicken Street?

Ekambara Naicken Street is classified as Residential Class II Type - II.

Where can I find the Sub Registrar Office for Ekambara Naicken Street?

The Sub Registrar Office covering Ekambara Naicken Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Ramapuram?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.