Guideline Value for Ethirajan Street

Ethirajan Street guideline value

The current guideline value of Ethirajan 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 Ethirajan Street has changed

The guideline value of Ethirajan Street has undergone 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 Rs 2,000 per sq.ft, which increased to Rs 2,200 per sq.ft in the 2024 revision, marking a change of +10%.

With the current guideline value set at Rs 2,200 per sq.ft, it is important to note that this figure reflects the latest revision and is applicable from 1 July 2024.

Guideline values in Madipakkam-1

In 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. The median guideline value in this area is Rs 2,750 per sq.ft, making Ethirajan Street's 2024 figure below that median.

• Ethirajalu 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 Ethirajan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty, calculated at 7%, would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, making the total cost Rs 1,98,000. It is important to note that 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 Ethirajan Street?

The Sub Registrar Office that covers Ethirajan 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 further assistance.

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

The guideline value plays a crucial role in the registration of property transactions in Madipakkam-1. When a property is bought or sold, the guideline value is used as a basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the guideline value, as it directly impacts the costs associated with property transactions. This value is periodically revised, reflecting changes in the real estate landscape in the area.

Frequently asked questions

What is the current guideline value of Ethirajan Street?

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

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. Ethirajan Street's current guideline value is below this median.

How is stamp duty calculated for properties in Ethirajan Street?

Stamp duty for properties in Ethirajan Street is calculated at 7% of the guideline value or sale price, whichever is higher. For a plot of 1,000 sq.ft, the stamp duty would amount to Rs 1,54,000 based on the current guideline value.

Where can I find the Sub Registrar Office for Ethirajan Street?

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