Guideline Value for Eswari Nagar

Eswari Nagar guideline value

The current guideline value of Eswari Nagar, located in Varadarajapuram village under the Padappai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Eswari Nagar has changed

The guideline value of Eswari Nagar has undergone several revisions over the years. The 2007 revision set the value at Rs 120 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 670 per sq.ft in the 2017 revision, marking a decline of 33%. The value then rose sharply to Rs 1,000 per sq.ft in 2023, and further increased by 10% to the current rate of Rs 1,100 per sq.ft in 2024.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been an increase of 817%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value for Eswari Nagar is below this median.

• Euyropa Carmel Layout: Rs 1,650 per sq.ft (2024)
• E.V.P Sriram Nagar: Rs 1,320 per sq.ft (2024)
• Elumalai Nagar: Rs 1,650 per sq.ft (2024)
• Fortune Residency: Rs 1,650 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Gajalakshmi Nagar @ Marvel County: Rs 1,320 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 details.

Which Sub Registrar Office covers Eswari Nagar?

The Sub Registrar Office that covers Eswari Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware that the guideline value can influence the overall cost of property transactions.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the registration process adheres to the established legal framework and reflects the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Eswari Nagar?

The current guideline value of Eswari Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 817% over the years.

What is the land classification of Eswari Nagar?

Eswari Nagar is classified as Residential Class II Type - I.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for property in Eswari Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 11,00,000, leading to a stamp duty of Rs 77,000.