Guideline Value for Ethiraj street

Ethiraj street guideline value

The current guideline value of Ethiraj street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village under the Selaiyur SRO, and it is classified as Residential Special Type - II.

How the guideline value of Ethiraj street has changed

The guideline value for Ethiraj street has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 3,000 per sq.ft, and the most recent 2024 revision has raised it further to Rs 3,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The transition from 2023 to 2024 saw a 10% increase, resulting in an overall rise of 10% from 2012 to 2024.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. Ethiraj street's 2024 guideline value of Rs 3,300 per sq.ft is above this median.

• Gajendra Nagar: Rs 3,300 per sq.ft (2024)
• Gajendra Nagar 1st to 5th Cross street: Rs 3,300 per sq.ft (2024)
• Elangovadigal street: Rs 3,300 per sq.ft (2024)
• Elangovadigal cross street: Rs 3,300 per sq.ft (2024)
• Gandhi Nagar 3rd Cross st, "Verdant Acres": Rs 2,725 per sq.ft (2024)
• Gandhi Nagar Society: Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Ethiraj street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total charges 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 details, 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 Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Perumbakkam, as it determines the minimum value at which the property can be registered. This value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is officially recognized by the authorities.

When registering a property, buyers must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate taxes based on the property's value, as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Ethiraj street?

The current guideline value of Ethiraj street 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 from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Ethiraj street?

Ethiraj street is classified as Residential Special Type - II, indicating its designated use for residential purposes.

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

The Selaiyur Sub Registrar Office covers Ethiraj street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for property in Ethiraj street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the stamp duty would be Rs 2,31,000.