Guideline Value for Eswari Nagar

Eswari Nagar guideline value

The current guideline value of Eswari Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Eswari Nagar has changed

Over the years, the guideline value of Eswari Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,200 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 1,300 per sq.ft, marking an 8% rise from the previous year.

It is important to note that there are no figures available for the years 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 Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Eswari Nagar is below this median.

• Eswari Nagar (Ward No.7): Rs 1,300 per sq.ft (2024)
• Ethiraj Nagar: Rs 1,300 per sq.ft (2024)
• Ethiraj Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Eswaran Koi st Perumal Koil st (Ward No.9): Rs 1,300 per sq.ft (2024)
• Ettiappan Nagar Govindan Street (Ward 29): Rs 1,300 per sq.ft (2024)
• Eswaran Koil st (Ward No.9): Rs 1,300 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 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty charged at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. 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 further calculations.

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 information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and that the property is valued fairly according to the established guidelines.

Frequently asked questions

What is the current guideline value of Eswari Nagar?

The current guideline value of Eswari Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification of Eswari Nagar?

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

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

For a 1,000 sq.ft plot, the total stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000 based on the current guideline value.

Where is the Sub Registrar Office for Eswari Nagar located?

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