Guideline Value for Ethiraj Street

Ethiraj Street guideline value

The current guideline value of Ethiraj Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Ethiraj Street has changed

The guideline value for Ethiraj Street has seen 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 2,000 per sq.ft, which increased to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% rise.

This change reflects the adjustments made in the guideline value register, with the most recent revision indicating a current value that is below the median guideline value for streets in Madipakkam-1.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Ethiraj Street's 2024 figure below this median.

• Ethirajan Street: Rs 2,200 per sq.ft (2024)
• Ethirajalu Street: Rs 2,200 per sq.ft (2024)
• E.V.R. Colony: Rs 2,750 per sq.ft (2024)
• E.V.R. Colony 1st Cross Street: Rs 2,750 per sq.ft (2024)
• E.V.R. Colony 1st Street: Rs 2,750 per sq.ft (2024)
• E.V.R. Colony 2nd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Ethiraj Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ethiraj Street?

The Sub Registrar Office that covers Ethiraj Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that all transactions are conducted transparently and in accordance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Ethiraj Street?

The current guideline value of Ethiraj Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Ethiraj Street was Rs 2,000 per sq.ft in 2023 and increased to Rs 2,200 per sq.ft in 2024, marking a 10% rise. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, with Ethiraj Street's 2024 figure being below this median.

What are the stamp duty and registration fees for property in Ethiraj Street?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Ethiraj Street located?

The Sub Registrar Office for Ethiraj Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.