Guideline Value for Eswaran Koil Street

Eswaran Koil Street guideline value

The current guideline value of Eswaran Koil Street in Padiyanallur village, under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Eswaran Koil Street has changed

Since the 2003 revision, the guideline value of Eswaran Koil Street has seen significant changes. In 2003, the value was Rs 102 per sq.ft, which increased to Rs 300 per sq.ft in 2007. The value then rose to Rs 600 per sq.ft in 2012, before decreasing to Rs 402 per sq.ft in 2017. The 2023 revision set the value at Rs 600 per sq.ft, and the latest 2024 revision increased it to Rs 660 per sq.ft, marking a 10% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 547%. The register has no figure for the year 2002 for this street.

Guideline values in Padiyanallur

Padiyanallur contains a total of 132 streets under the Redhills SRO, with guideline values ranging from Rs 385 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 770 per sq.ft, placing Eswaran Koil Street's 2024 figure below that median.

• Eswaran Koil Street Lane: Rs 660 per sq.ft (2024)
• Elanchezhian Street: Rs 660 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 770 per sq.ft (2024)
• Duraisamy Reddiyar Street: Rs 385 per sq.ft (2024)
• Gandhi Street: Rs 770 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 660 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padiyanallur. It determines the minimum value at which properties can be registered, ensuring that the government collects appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction, as it reflects the official valuation set by the Registration Department. Buyers and sellers should be aware of the guideline value to avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Eswaran Koil Street?

The current guideline value of Eswaran Koil Street is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 102 per sq.ft in 2003 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 547% over the years.

What is the median guideline value in Padiyanallur?

The median guideline value for streets in Padiyanallur is Rs 770 per sq.ft, with Eswaran Koil Street's current value being below this median.

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

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a property valued at Rs 6,60,000 would incur a total fee of Rs 59,400.

Which office handles property registrations for Eswaran Koil Street?

The Redhills Sub Registrar Office handles property registrations for Eswaran Koil Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.