Guideline Value for Eswaran Koil Street

Eswaran Koil Street guideline value

The current guideline value of Eswaran Koil Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Eswaran Koil Street has changed

The guideline value for Eswaran Koil Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 2,300 per sq.ft. This was followed by a decrease to Rs 1,541 per sq.ft in 2017. In 2023, the value increased to Rs 2,300 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,500 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From the 2012 revision to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it saw a significant increase of 49%. The change from 2023 to 2024 reflects a rise of 9%. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value is Rs 2,500 per sq.ft, which aligns with the guideline value of Eswaran Koil Street.

• Eswari Nagar: Rs 2,500 per sq.ft (2024)
• Erukancherry High Road: Rs 3,800 per sq.ft (2024)
• Ethiraj Salai Pachaiappan Layout: Rs 2,500 per sq.ft (2024)
• Ethirajsamy Street: Rs 3,000 per sq.ft (2024)
• Ethiraj Swami Sanathi Street: Rs 3,000 per sq.ft (2024)
• Ethiraj Swamy Road: Rs 3,000 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 guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Eswaran Koil Street?

The Sub Registrar Office that covers Eswaran Koil Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Erukancherry. 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.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that transactions are conducted transparently and fairly, reflecting the true value of the property.

Frequently asked questions

What is the current guideline value of Eswaran Koil Street?

The current guideline value of Eswaran Koil Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then back to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for Eswaran Koil Street?

Eswaran Koil Street is classified as Residential Class III Type - I.

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

The Sub Registrar Office for Eswaran Koil Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Eswaran Koil Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000 at a rate of 7%.