Guideline Value for Ethiraj Colony

Ethiraj Colony guideline value

The current guideline value of Ethiraj Colony, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Ethiraj Colony has changed

Over the years, the guideline value of Ethiraj Colony has seen significant changes. The 2003 revision recorded a guideline value of Rs 303 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a substantial rise of 98%. This was followed by a remarkable increase to Rs 3,000 per sq.ft in 2012, which remained unchanged until the 2023 revision.

The 2023 revision maintained the guideline value at Rs 3,000 per sq.ft, but a new revision in 2024 saw it rise to Rs 3,300 per sq.ft, reflecting a 10% increase. Overall, from 2003 to 2024, the guideline value has increased by 989%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are a total of 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Ethiraj Colony for 2024.

• Ethiraj Street: Rs 2,750 per sq.ft (2024)
• E.S.I Colony: Rs 3,520 per sq.ft (2024)
• Evr Periyar Street: Rs 3,300 per sq.ft (2024)
• Erikarai Street: Rs 2,750 per sq.ft (2024)
• Erikarai Ora Street: Rs 3,300 per sq.ft (2024)
• Erattai Malai Srinivasan Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ethiraj Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ethiraj Colony?

The Sub Registrar Office that covers Ethiraj Colony is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It is the minimum value set by the government for property transactions, ensuring that properties are not sold for less than this value during registration.

When a property is registered, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ethiraj Colony?

The current guideline value of Ethiraj Colony is Rs 3,300 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 303 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 989% over this period.

What is the land classification for Ethiraj Colony?

Ethiraj Colony is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Ethiraj Colony?

The Sub Registrar Office for Ethiraj Colony is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for property in Ethiraj Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 33,00,000, the stamp duty would be calculated at 7% of this amount.