Guideline Value for Ethiraj Swamy Road

Ethiraj Swamy Road guideline value

The current guideline value of Ethiraj Swamy Road is Rs 3,000 per sq.ft, effective from 1 July 2024. This road is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Ethiraj Swamy Road has changed

The guideline value of Ethiraj Swamy Road has seen several revisions over the years. The 2012 revision set the value at Rs 2,800 per sq.ft, which was then decreased to Rs 1,876 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,800 per sq.ft in 2023, and finally rose to Rs 3,000 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erukancherry

In Erukancherry village, there are 376 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing Ethiraj Swamy Road's 2024 figure above this median.

• Ethiraj Swami Sanathi Street: Rs 3,000 per sq.ft (2024)
• Ethirajsamy Street: Rs 3,000 per sq.ft (2024)
• Ethiraj Salai Pachaiappan Layout: Rs 2,500 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 Swamy Road

For a 1,000 sq.ft plot at the current rate of Rs 3,000 per sq.ft, the guideline value amounts to Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, totaling Rs 2,70,000. 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 Swamy Road?

The Sub Registrar Office that covers Ethiraj Swamy Road 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 of property transactions in Erukancherry. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ethiraj Swamy Road?

The current guideline value of Ethiraj Swamy Road is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,000 per sq.ft in 2024.

What is the stamp duty for property on Ethiraj Swamy Road?

The stamp duty for property on Ethiraj Swamy Road is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ethiraj Swamy Road?

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

What is the median guideline value in Erukancherry?

The median guideline value in Erukancherry is Rs 2,500 per sq.ft, with Ethiraj Swamy Road's value of Rs 3,000 per sq.ft being above this median.