Guideline Value for Eswaran Nagar 1st Street

Eswaran Nagar 1st Street guideline value

The current guideline value for Eswaran Nagar 1st 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 Street has changed

The guideline value for Eswaran Nagar 1st Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was then reduced to Rs 1,876 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,800 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the guideline value to Rs 3,100 per sq.ft.

In terms of percentage changes, the guideline value increased by 49% from 2017 to 2023 and by 11% from 2023 to 2024. Overall, from the 2012 revision to the current 2024 figure, the guideline value has increased by 11%. The register has no 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 among these streets is Rs 3,100 per sq.ft, which is equal to the guideline value for Eswaran Nagar 1st Street.

• Eswaran Nagar 1st Main 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 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, while the registration fee at 2% would be Rs 62,000, bringing the total charges 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 the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Eswaran Nagar 1st Street?

The Sub Registrar Office that covers Eswaran Nagar 1st 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 plays a crucial role in the registration process of property transactions in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it impacts the stamp duty and registration fees payable during the transaction.

When a property is sold, the registration office will use the guideline value to calculate the applicable fees. This ensures that all transactions are conducted transparently and that the government receives the appropriate revenue from property sales.

Frequently asked questions

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

The current guideline value of Eswaran Nagar 1st 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 undergone several revisions, increasing from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,100 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 31,00,000, the stamp duty would be Rs 2,17,000 and the registration fee would be Rs 62,000, totaling Rs 2,79,000.

Which Sub Registrar Office covers Eswaran Nagar 1st Street?

The Chennai South Joint II Sub Registrar Office covers Eswaran Nagar 1st Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

Where can I find more information about guideline values in Ramapuram?

You can find more information about guideline values in Ramapuram through the Registration Department's guideline value register (TNReginet) or by visiting the Chennai South Joint II SRO.