Guideline Value for Ekambaram Street

Ekambaram Street guideline value

The current guideline value of Ekambaram Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ekambaram Street has changed

The guideline value of Ekambaram Street has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 400 per sq.ft. This increased to Rs 437 per sq.ft in 2003, marking a rise of 9%. The value then saw a significant jump to Rs 550 per sq.ft in 2007, which was a 26% increase. Following this, the value surged dramatically to Rs 4,500 per sq.ft in 2012, reflecting a substantial increase of 718%. However, the value dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The guideline value further increased to Rs 4,500 per sq.ft in 2023, and as of 2024, it stands at Rs 4,950 per sq.ft, which is a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1138%. It is important to note that there are no figures available for the years not mentioned in this register for Ekambaram Street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a guideline value for 2024, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, indicating that Ekambaram Street's 2024 figure is above this median.

• East Mada Street: Rs 4,950 per sq.ft (2024)
• Empee Avenue: Rs 6,050 per sq.ft (2024)
• Duraisamy Road (Duraisamy Gramani Road): Rs 6,050 per sq.ft (2024)
• Gajendran Street: Rs 4,400 per sq.ft (2024)
• Divakar Street: Rs 4,950 per sq.ft (2024)
• Dharansingh Colony 2nd Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ekambaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000. Together, the total cost would be Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ekambaram Street?

The Sub Registrar Office that covers Ekambaram 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Saligramam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The guideline value is set by the Registration Department and reflects the value of properties in the area.

When purchasing a property, buyers should be aware that the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Ekambaram Street?

The current guideline value of Ekambaram Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 1138% over the years.

What is the land classification for Ekambaram Street?

Ekambaram Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 4,45,500.

Where is the Sub Registrar Office for Ekambaram Street located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.