Guideline Value for Eswaran Street (K.M. Nagar)

Eswaran Street (K.M. Nagar) guideline value

The current guideline value of Eswaran Street (K.M. Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Eswaran Street (K.M. Nagar) has changed

The guideline value for Eswaran Street (K.M. Nagar) has undergone several revisions over the years. The earliest available figure is from the 2012 revision, which was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision, a significant drop of 33%. However, from 2017 to 2023, the value increased by 49% to reach Rs 2,500 per sq.ft, and in the latest revision for 2024, it further increased by 8% to Rs 2,700 per sq.ft.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 8%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which aligns with the current value of Eswaran Street (K.M. Nagar).

• Eswari Street: Rs 2,200 per sq.ft (2024)
• Eswari Street (Lakshmiamman): Rs 2,200 per sq.ft (2024)
• Ethiraj Swamy Sannathi Street: Rs 3,301 per sq.ft (2024)
• E.V.R. Salai: Rs 2,700 per sq.ft (2024)
• E.V.R. Street: Rs 2,700 per sq.ft (2024)
• Ezhil Nagar A Block 10th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Eswaran Street (K.M. Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Eswaran Street (K.M. Nagar)?

The Sub Registrar Office that covers Eswaran Street (K.M. Nagar) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Eswaran Street (K.M. Nagar)?

The current guideline value of Eswaran Street (K.M. Nagar) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification of Eswaran Street (K.M. Nagar)?

Eswaran Street (K.M. Nagar) is classified as Residential Class I Type - I under the Madhavaram SRO.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.