Guideline Value for Eswaran Koil Street

Eswaran Koil Street guideline value

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

How the guideline value of Eswaran Koil Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained until the 2017 revision, where it decreased to Rs 1,675 per sq.ft, marking a reduction of 33%. The value then increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and further rose to Rs 2,750 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value is Rs 3,850 per sq.ft, indicating that Eswaran Koil Street's 2024 figure is below this median.

• European Lane: Rs 3,850 per sq.ft (2024)
• Ex-Serviceman Colony 1st To 3rd Street: Rs 3,850 per sq.ft (2024)
• Fisherman Street: Rs 2,750 per sq.ft (2024)
• Ekambara Dabedhar Street: Rs 3,850 per sq.ft (2024)
• East Silver Street: Rs 3,300 per sq.ft (2024)
• East Raja Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Eswaran Koil 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Eswaran Koil Street?

The Sub Registrar Office that covers Eswaran Koil Street is 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 additional information.

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

The guideline value is an essential factor in property transactions in Parangimalai, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value serves as a benchmark for calculating the associated costs. It is crucial for buyers to be aware of the guideline value to ensure compliance with legal requirements and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Eswaran Koil Street?

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

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various changes, including a decrease in 2017, followed by increases in 2023 and 2024. The most recent increase was a 10% rise from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024.

What is the median guideline value in Parangimalai?

The median guideline value in Parangimalai is Rs 3,850 per sq.ft, which is higher than the current value of Eswaran Koil Street.

What fees are associated with buying property in Eswaran Koil Street?

When buying property in Eswaran Koil Street, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Eswaran Koil Street?

The Sub Registrar Office for Eswaran Koil Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more information online.