Guideline Value for Eswaran Nagar Extension

Eswaran Nagar Extension guideline value

The current guideline value of Eswaran Nagar Extension, located in Pammathukulam village under the Redhills SRO, is Rs 825 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is classified as Commercial Special Type - I.

How the guideline value of Eswaran Nagar Extension has changed

The guideline value for Eswaran Nagar Extension has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 367 per sq.ft. This increased to Rs 38 per sq.ft in 2003, followed by a significant rise to Rs 300 per sq.ft in 2007. The value then increased to Rs 600 per sq.ft in 2012, but saw a decrease to Rs 502 per sq.ft in 2017. The most recent revisions show an increase to Rs 750 per sq.ft in 2023, and finally to Rs 825 per sq.ft in 2024, reflecting a 10% increase from the previous year.

In terms of percentage changes, the guideline value increased by 689% from 2003 to 2007, followed by a 100% increase from 2007 to 2012. However, there was a decrease of 16% from 2012 to 2017. The value then rose by 49% from 2017 to 2023 and has seen a 10% increase from 2023 to 2024. Overall, from 2002 to 2024, there has been a 125% increase in the guideline value.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft, with a median value of Rs 550 per sq.ft. Eswaran Nagar Extension's current value of Rs 825 per sq.ft is above this median.

• Eswaran Nagar Annex - III: Rs 660 per sq.ft (2024)
• Eswaran Nagar Extension-I: Rs 825 per sq.ft (2024)
• Eswaran Nagar Extension III: Rs 660 per sq.ft (2024)
• Eswaran Nagar Annex II: Rs 660 per sq.ft (2024)
• Eswari Nagar: Rs 660 per sq.ft (2024)
• Eswaran Nagar: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Eswaran Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total fees together to Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Eswaran Nagar Extension?

The Sub Registrar Office that covers Eswaran Nagar Extension 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 Pammathukulam

The guideline value is a crucial factor when registering property transactions in Pammathukulam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are recorded fairly and transparently.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Eswaran Nagar Extension?

The current guideline value of Eswaran Nagar Extension is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 367 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, reflecting various increases and decreases across the revisions.

What is the land classification for Eswaran Nagar Extension?

Eswaran Nagar Extension is classified as Commercial Special Type - I, indicating its designated use for commercial purposes.

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

For a property valued at Rs 8,25,000, the stamp duty is Rs 57,750 and the registration fee is Rs 16,500, totaling Rs 74,250.

Where can I find the Sub Registrar Office for Eswaran Nagar Extension?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.