Guideline Value for Eswari Nagar

Eswari Nagar guideline value

The current guideline value of Eswari Nagar, located in Pammathukulam village under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Eswari Nagar has changed

Over the years, the guideline value of Eswari Nagar has seen significant changes. The earliest recorded revision in the register is from 2002, where the value was Rs 414 per sq.ft. This figure was followed by a drastic increase to Rs 43 per sq.ft in 2003, which was a decrease of 90%. The guideline value then rose sharply to Rs 300 per sq.ft in 2007, marking an increase of 598%. In 2012, it again increased to Rs 600 per sq.ft, reflecting a 100% rise. However, the value decreased to Rs 402 per sq.ft in 2017, a drop of 33%. The subsequent revisions saw an increase to Rs 600 per sq.ft in 2023, followed by the current value of Rs 660 per sq.ft in 2024, which is a rise of 10%.

From 2017 to 2023, the increase was 49%. Overall, from the 2002 revision to the current 2024 figure, the guideline value has increased by 59%. There are no figures available for the years not mentioned in this article.

Guideline values in Pammathukulam

Pammathukulam village has 101 streets under the Redhills SRO, with guideline values for 2024 ranging from Rs 330 to Rs 825 per sq.ft. The median guideline value for the village is Rs 550 per sq.ft, and Eswari Nagar's current value is above this median.

• Eswaran Nagr Annex II: Rs 660 per sq.ft (2024)
• Eswaran Nagar Extension III: Rs 660 per sq.ft (2024)
• Eswaran Nagar Extension-I: Rs 825 per sq.ft (2024)
• Eswaran Nagar Extension: Rs 825 per sq.ft (2024)
• Eswaran Nagar Annex - III: Rs 660 per sq.ft (2024)
• Eswaran Nagar: Rs 825 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 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, making the total cost for these fees Rs 59,400. 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 information.

Which Sub Registrar Office covers Eswari Nagar?

Eswari Nagar is covered by 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammathukulam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Eswari Nagar?

The current guideline value of Eswari Nagar is Rs 660 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 414 per sq.ft in 2002 to Rs 660 per sq.ft in 2024, reflecting various increases and decreases across several revisions.

What is the land classification for Eswari Nagar?

Eswari Nagar falls under Residential Class I Type - I land classification, indicating its suitability for residential development.

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

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200, and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles property registrations in Eswari Nagar?

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