Guideline Value for Ethiraj Nagar

Ethiraj Nagar guideline value

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

How the guideline value of Ethiraj Nagar has changed

The guideline value for Ethiraj Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent 2024 revision has increased the guideline value to Rs 1,300 per sq.ft, representing a significant rise of 62% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a slight increase of 8%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value across these streets is Rs 1,600 per sq.ft, placing Ethiraj Nagar's 2024 figure below the median.

• Ethiraj Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Eswari Nagar (Ward No.7): Rs 1,300 per sq.ft (2024)
• Eswari Nagar: Rs 1,300 per sq.ft (2024)
• Ettiappan Nagar Govindan Street (Ward 29): Rs 1,300 per sq.ft (2024)
• Ettiappan Nagar Kanniappan Street (Ward 29): Rs 1,300 per sq.ft (2024)
• Ettiappan Nagar (Ward-29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ethiraj Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees 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.

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

Which Sub Registrar Office covers Ethiraj Nagar?

The Sub Registrar Office that covers Ethiraj Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madhavaram. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property transaction occurs, the guideline value is compared with the sale price. The higher of the two values is used to determine the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ethiraj Nagar?

The current guideline value of Ethiraj 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 seen several changes, with Rs 1,200 per sq.ft in 2012, dropping to Rs 804 per sq.ft in 2017, and then rising to Rs 1,300 per sq.ft in 2024.

What is the land classification for Ethiraj Nagar?

Ethiraj Nagar is classified as Residential Class III Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur total fees of Rs 1,17,000.

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

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