Guideline Value for Eswaran Nagar

Eswaran Nagar guideline value

The current guideline value of Eswaran Nagar, located in Pammathukulam village under the Redhills SRO, is Rs 825 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Eswaran Nagar has changed

The guideline value for Eswaran Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 367 per sq.ft. This figure increased significantly to Rs 39 per sq.ft in 2003, followed by a dramatic rise to Rs 300 per sq.ft in 2007. The value then rose to Rs 750 per sq.ft in 2012, before decreasing to Rs 502 per sq.ft in 2017. The next revision in 2023 saw the value increase to Rs 750 per sq.ft, and the most recent revision in 2024 sets the value at Rs 825 per sq.ft.

Between the revisions, there have been notable changes. From 2002 to 2024, the overall increase is 125%. The increase from 2003 to 2007 was 669%, while the value dropped by 33% from 2012 to 2017. The most recent change from 2023 to 2024 reflects a 10% increase.

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's 2024 guideline value is above this median.

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

Stamp duty and registration fee for property in Eswaran Nagar

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

Which Sub Registrar Office covers Eswaran Nagar?

The Sub Registrar Office that covers Eswaran Nagar 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 critical factor during the registration of property transactions in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is necessary for legal documentation and taxation purposes. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Eswaran Nagar?

The current guideline value of Eswaran Nagar 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 multiple times, starting from Rs 367 per sq.ft in 2002, reaching Rs 825 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Eswaran Nagar?

Eswaran Nagar is classified as Commercial Special Type - I, which indicates its intended use for commercial purposes.

What are the stamp duty and registration fees for property in Eswaran Nagar?

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

Where is the Sub Registrar Office for Eswaran Nagar located?

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