Guideline Value for Eternity

Eternity guideline value

The current guideline value of Eternity, located in Chembarambakkam village under the Poonamallee SRO, is Rs 2,800 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - IV.

How the guideline value of Eternity has changed

The guideline value for Eternity has undergone several revisions over the years. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 1,700 per sq.ft, which was then increased by 65% to Rs 2,800 per sq.ft in the 2024 revision.

This significant change reflects a rise in the guideline value from Rs 1,700 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024. The increase indicates a notable adjustment in the valuation of properties in this area.

Guideline values in Chembarambakkam

In Chembarambakkam, there are 64 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Eternity is above this median.

• Eternity Phase II: Rs 2,800 per sq.ft (2024)
• Ekavalli Nagar: Rs 878 per sq.ft (2024)
• Gandhi Street Aathukal Street Till Well 97/4c, 4i,4j,5,6.7.8.9.10: Rs 878 per sq.ft (2024)
• Gandhi Street Athukkal Therukenar Varai: Rs 878 per sq.ft (2024)
• Highlight: Rs 3,400 per sq.ft (2024)
• Chennai Bangalore National Highway: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Eternity

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost to Rs 2,52,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Eternity?

The Sub Registrar Office that covers Eternity is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Chembarambakkam. It is used to determine the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used for calculating the stamp duty. This ensures that the transaction is accurately reflected in the official records.

Frequently asked questions

What is the current guideline value of Eternity?

The current guideline value of Eternity is Rs 2,800 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How much has the guideline value changed from 2023 to 2024?

The guideline value increased from Rs 1,700 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, marking a rise of 65%.

What is the land classification for Eternity?

The land classification for Eternity is Residential Special Type - IV, indicating its designated use for residential purposes.

How is the stamp duty calculated for properties in Eternity?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a guideline value of Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.

Which office do I need to visit for registration in Eternity?

The Poonamallee Sub Registrar Office is responsible for property registrations in Eternity. It is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.