Guideline Value for Ethiraj Salai Pachaiappan Layout

Ethiraj Salai Pachaiappan Layout guideline value

The current guideline value of Ethiraj Salai Pachaiappan Layout is Rs 2,500 per sq.ft, effective from 1 July 2024. This layout is located in Erukancherry village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Ethiraj Salai Pachaiappan Layout has changed

The guideline value for Ethiraj Salai Pachaiappan Layout has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 2,300 per sq.ft, which then decreased to Rs 1,541 per sq.ft in the 2017 revision. Following this, the 2023 revision saw an increase to Rs 2,300 per sq.ft, and the most recent 2024 revision has established the current value at Rs 2,500 per sq.ft.

Between the 2023 and 2024 revisions, there was a 9% increase. From 2017 to 2023, the value rose significantly by 49%. However, the value decreased by 33% from the 2012 revision to the 2017 revision. Overall, from 2012 to 2024, there has been a 9% increase in the guideline value.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft, with a median of Rs 2,500 per sq.ft. The guideline value for Ethiraj Salai Pachaiappan Layout aligns with this median.

• Ethirajsamy Street: Rs 3,000 per sq.ft (2024)
• Ethiraj Swami Sanathi Street: Rs 3,000 per sq.ft (2024)
• Ethiraj Swamy Road: Rs 3,000 per sq.ft (2024)
• Eswari Nagar: Rs 2,500 per sq.ft (2024)
• Eswaran Koil Street: Rs 2,500 per sq.ft (2024)
• E.V.R. Salai: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ethiraj Salai Pachaiappan Layout

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value would be Rs 25,00,000. The stamp duty, calculated at 7%, would amount to Rs 1,75,000, while the registration fee at 2% would be Rs 50,000. Together, these fees would total Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ethiraj Salai Pachaiappan Layout?

The Sub Registrar Office that covers Ethiraj Salai Pachaiappan Layout 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 Erukancherry

The guideline value is a crucial factor in the registration process for property transactions in Erukancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are conducted transparently and fairly.

When buying or selling property, the guideline value influences the stamp duty and registration fees that are applicable. Buyers should be aware that these costs are calculated based on the guideline value or the sale price, whichever is higher, which can impact the overall expenses involved in the transaction.

Frequently asked questions

What is the current guideline value of Ethiraj Salai Pachaiappan Layout?

The current guideline value of Ethiraj Salai Pachaiappan Layout is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,300 per sq.ft in 2012 to Rs 1,541 per sq.ft in 2017, then increased to Rs 2,300 per sq.ft in 2023, and finally to Rs 2,500 per sq.ft in 2024.

What is the land classification for Ethiraj Salai Pachaiappan Layout?

The land classification for Ethiraj Salai Pachaiappan Layout is Residential Class III Type - I.

What are the stamp duty and registration fees for properties in this layout?

For a property valued at Rs 25,00,000, the stamp duty is Rs 1,75,000 and the registration fee is Rs 50,000, totaling Rs 2,25,000.

Which office handles registrations for Ethiraj Salai Pachaiappan Layout?

The Madhavaram Sub Registrar Office handles registrations for Ethiraj Salai Pachaiappan Layout, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.