Guideline Value for Ethirajalu Street

Ethirajalu Street guideline value

The current guideline value of Ethirajalu 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 it falls under the Residential Class II Type - I land classification.

How the guideline value of Ethirajalu Street has changed

The guideline value for Ethirajalu Street has seen a change from the previous revision. In 2023, the guideline value was Rs 2,000 per sq.ft. This reflects a 10% increase to Rs 2,200 per sq.ft in the 2024 revision. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

As such, the only revisions available are for 2023 and 2024, showing a clear upward trend in the guideline value. The current figure of Rs 2,200 per sq.ft is now established as the latest guideline value.

Guideline values in Madipakkam-1

Within Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Ethirajalu Street's 2024 figure is below this median.

• Ethirajan Street: Rs 2,200 per sq.ft (2024)
• Ethiraj 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 Ethirajalu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty, charged at 7%, would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. Duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ethirajalu Street?

The Sub Registrar Office that covers Ethirajalu 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 information.

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

When buying or selling property in Madipakkam-1, the guideline value is a crucial factor during the registration process. It determines the minimum value at which the property must be registered, ensuring that the transaction is documented accurately.

Buyers and sellers must consider the guideline value as it directly affects the stamp duty and registration fees payable. Accurate assessment of the guideline value ensures compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Ethirajalu Street?

The current guideline value of Ethirajalu 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 changed from Rs 2,000 per sq.ft in 2023 to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft as of the 2024 revision. Ethirajalu Street's guideline value is below this median.

What is the stamp duty rate applicable in Madipakkam-1?

The stamp duty rate applicable in Madipakkam-1 is 7% of the guideline value or the sale price, whichever is higher. This is an important consideration for property transactions.

Where is the Sub Registrar Office located for Ethirajalu Street?

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