Guideline Value for Eswari Nagar

Eswari Nagar guideline value

The current guideline value of Eswari Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024. This area is located in Erukancherry village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Eswari Nagar has changed

The guideline value for Eswari Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,300 per sq.ft, which was followed by a decrease to Rs 1,541 per sq.ft in the 2017 revision. However, the value saw a significant increase in the 2023 revision, rising to Rs 2,300 per sq.ft, and then further increasing to Rs 2,500 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 reflects a 9% increase. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with the median value being Rs 2,500 per sq.ft. Eswari Nagar's 2024 guideline value is equal to this median.

• Ethiraj Salai Pachaiappan Layout: Rs 2,500 per sq.ft (2024)
• Ethirajsamy Street: Rs 3,000 per sq.ft (2024)
• Ethiraj Swami Sanathi Street: Rs 3,000 per sq.ft (2024)
• Ethiraj Swamy Road: Rs 3,000 per sq.ft (2024)
• Eswaran Koil Street: Rs 2,500 per sq.ft (2024)
• Erukancherry High Road: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Eswari Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, making the total fees Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Eswari Nagar?

The Sub Registrar Office that covers Eswari Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Erukancherry, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a buyer agrees on a sale price, the guideline value is compared to ensure that the correct fees are applied. If the sale price is higher than the guideline value, the fees are calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value for Eswari Nagar?

The current guideline value for Eswari Nagar is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

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

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000, and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

What is the land classification for Eswari Nagar?

Eswari Nagar is classified as Residential Class III Type - I, which is important for understanding the zoning and permissible uses of the land.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, serving the registration needs for Eswari Nagar and surrounding areas.