Guideline Value for Eswari Nagar

Eswari Nagar guideline value

The current guideline value of Eswari Nagar, located in Gowrivakkam village under the Selaiyur SRO, is Rs 3,750 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of Eswari Nagar has changed

The guideline value for Eswari Nagar has seen significant changes over the years. In the 2007 revision, the value was set at Rs 600 per sq.ft, which increased dramatically to Rs 3,500 per sq.ft in 2012, marking a rise of 483%. However, this value then dropped by 33% to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, which was a 49% increase from the previous figure. The most recent revision in 2024 has raised the value to Rs 3,750 per sq.ft, reflecting a 7% increase from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 for this street in the guideline value register.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Eswari Nagar is above this median.

• Eswari Nagar Main Road: Rs 3,750 per sq.ft (2024)
• Eswari nagar [Velachery Main Road]: Rs 3,750 per sq.ft (2024)
• Easwari Nagar 2nd Street: Rs 3,750 per sq.ft (2024)
• Easwari Nagar 1st Street: Rs 3,750 per sq.ft (2024)
• Durga Colony: Rs 1,400 per sq.ft (2024)
• College Road: Rs 1,600 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 3,750 per sq.ft, the total guideline value amounts to Rs 37,50,000. The stamp duty is charged at 7%, which totals Rs 2,62,500, and the registration fee at 2% amounts to Rs 75,000. Therefore, the total cost for stamp duty and registration fees together is Rs 3,37,500. 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Gowrivakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to understand the associated costs.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Eswari Nagar?

The current guideline value of Eswari Nagar is Rs 3,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,750 per sq.ft in 2024, reflecting an overall increase of 525% over the years.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 3,37,500.

Which Sub Registrar Office covers Eswari Nagar?

The Selaiyur Sub Registrar Office covers Eswari Nagar, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification of Eswari Nagar?

Eswari Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.