Guideline Value for Eswaran Koil Street (Old Edapalayam)

Eswaran Koil Street (Old Edapalayam) guideline value

The current guideline value of Eswaran Koil Street (Old Edapalayam) is Rs 220 per sq.ft, effective from 1 July 2024. This street is located in Pazhaya Erumai Vettipalayam village, under the jurisdiction of the Redhills SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Eswaran Koil Street (Old Edapalayam) has changed

The guideline value for Eswaran Koil Street (Old Edapalayam) has undergone several revisions over the years. In 2007, the value was Rs 100 per sq.ft, which increased to Rs 200 per sq.ft in 2012, marking a 100% rise. However, it decreased to Rs 134 per sq.ft in 2017, a change of -33%. The value then rose significantly to Rs 200 per sq.ft in 2023, and finally to Rs 220 per sq.ft in 2024, reflecting a 10% increase from the previous year. The register has no figure for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 120%. The changes between the revisions highlight the fluctuations in property valuation over the years, with the most significant increase occurring between 2012 and 2017, followed by a substantial rise from 2017 to 2023.

Guideline values in Pazhaya Erumai Vettipalayam

In Pazhaya Erumai Vettipalayam, there are 14 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 110 to Rs 220 per sq.ft. The median guideline value for these streets is Rs 220 per sq.ft, which is the same as the 2024 figure for Eswaran Koil Street (Old Edapalayam).

• Arunthatheerpuram Street: Rs 110 per sq.ft (2024)
• Mathammal Koil Street: Rs 220 per sq.ft (2024)
• Mathammal Koil Street (Pudhu Edapalayam): Rs 220 per sq.ft (2024)
• Mettu Colony Street (Old Edapalayam): Rs 110 per sq.ft (2024)
• Palla Colony Street (Old Edapalayam): Rs 110 per sq.ft (2024)
• Perumal Koil Street (Mettu Colony): Rs 110 per sq.ft (2024)

Stamp duty and registration fee for property in Eswaran Koil Street (Old Edapalayam)

For a 1,000 sq.ft plot at the current rate of Rs 220 per sq.ft, the guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total to Rs 19,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Eswaran Koil Street (Old Edapalayam)?

The Sub Registrar Office that covers Eswaran Koil Street (Old Edapalayam) 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 further assistance.

How the guideline value is used when you buy or sell in Pazhaya Erumai Vettipalayam

The guideline value is crucial during property transactions in Pazhaya Erumai Vettipalayam, as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must consider the guideline value to ensure compliance with local regulations when registering property.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Eswaran Koil Street (Old Edapalayam)?

The current guideline value of Eswaran Koil Street (Old Edapalayam) is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 220 per sq.ft in 2024, showing an overall increase of 120% over the years.

What is the registration office for Eswaran Koil Street (Old Edapalayam)?

The registration office for Eswaran Koil Street (Old Edapalayam) is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For a 1,000 sq.ft property, the total fees can amount to Rs 19,800.

Are there other streets with guideline values in Pazhaya Erumai Vettipalayam?

Yes, there are 14 streets in Pazhaya Erumai Vettipalayam with guideline values ranging from Rs 110 to Rs 220 per sq.ft, with Eswaran Koil Street (Old Edapalayam) at the median value of Rs 220 per sq.ft.