Guideline Value for Eswaran Nagar 1st Main Street

Eswaran Nagar 1st Main Street guideline value

The current guideline value of Eswaran Nagar 1st Main Street is Rs 3,100 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Eswaran Nagar 1st Main Street has changed

Over the years, the guideline value for Eswaran Nagar 1st Main Street has seen several revisions. The 2012 revision set the value at Rs 2,800 per sq.ft, which then decreased to Rs 1,876 per sq.ft in the 2017 revision, marking a decline of 33%. However, the subsequent 2023 revision increased the value to Rs 2,800 per sq.ft, and the latest 2024 revision has further raised it to Rs 3,100 per sq.ft, reflecting an increase of 11% from the previous year.

To summarize the changes: from 2017 to 2023, the value increased by 49%, while the overall change from 2012 to 2024 shows an increase of 11%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value for these streets is Rs 3,100 per sq.ft, which is the same as the guideline value for Eswaran Nagar 1st Main Street.

• Eswaran Nagar 1st Street: Rs 3,100 per sq.ft (2024)
• Eswaran Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• Eswaran Nagar 3rd Street: Rs 3,100 per sq.ft (2024)
• Eswaran Nagar 4th Street: Rs 3,100 per sq.ft (2024)
• Eswaran Nagar: Rs 3,100 per sq.ft (2024)
• Eswaran Koil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Eswaran Nagar 1st Main Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,100 per sq.ft, the total guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, and the registration fee at 2% would be Rs 62,000, bringing the total to Rs 2,79,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Eswaran Nagar 1st Main Street?

The Sub Registrar Office that covers Eswaran Nagar 1st Main 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 more information.

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

The guideline value is a critical factor during the registration process of property transactions in Ramapuram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is crucial for calculating the applicable taxes and fees, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Eswaran Nagar 1st Main Street?

The current guideline value of Eswaran Nagar 1st Main Street is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then back to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What is the land classification for Eswaran Nagar 1st Main Street?

The land classification for Eswaran Nagar 1st Main Street is Residential Class II Type - I.

What are the other streets in Ramapuram with the same guideline value?

Other streets in Ramapuram with the same guideline value of Rs 3,100 per sq.ft include Eswaran Nagar 1st Street, Eswaran Nagar 2nd Street, Eswaran Nagar 3rd Street, and Eswaran Nagar 4th Street.

Where can I find the Sub Registrar Office for Eswaran Nagar 1st Main Street?

The Sub Registrar Office for Eswaran Nagar 1st Main 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.