Guideline Value for Ettayapuram

Ettayapuram guideline value

The current guideline value of Ettayapuram, located in Naduveerapattu village under the Padappai SRO, is Rs 550 per sq.ft. This value is effective from the 2024 revision, which will come into effect on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ettayapuram has changed

The guideline value for Ettayapuram has seen several revisions over the years. Starting from the 2012 revision, the guideline value was set at Rs 500 per sq.ft. This figure remained unchanged until the 2017 revision, where it was decreased to Rs 335 per sq.ft. Following this, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, marking a 49% increase from the previous figure. The most recent revision in 2024 brought the guideline value up to Rs 550 per sq.ft, reflecting a 10% increase from the 2023 value.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%.

Guideline values in Naduveerapattu

Naduveerapattu village has a total of 96 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 2,500 per sq.ft. The median guideline value for these streets is Rs 660 per sq.ft, placing Ettayapuram's 2024 figure below that median.

• Ellaiamman Koil Street: Rs 550 per sq.ft (2024)
• Durga Nagar: Rs 440 per sq.ft (2024)
• Dhakshin City: Rs 550 per sq.ft (2024)
• Darshan Garden: Rs 1,640 per sq.ft (2024)
• Darcost Vinnarasi Street: Rs 660 per sq.ft (2024)
• Gramani Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ettayapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty charged at 7% would be Rs 38,500, while the registration fee at 2% would be Rs 11,000. Together, the total cost for these fees would be Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ettayapuram?

The Sub Registrar Office that covers Ettayapuram is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. For further details, you can find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Naduveerapattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. The fees are calculated based on the guideline value or the sale price, depending on which is higher.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in real estate dealings. It is essential for both buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Ettayapuram?

The current guideline value of Ettayapuram is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Ettayapuram?

The land classification for Ettayapuram is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Ettayapuram?

The Sub Registrar Office for Ettayapuram is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How are stamp duty and registration fees calculated in Ettayapuram?

Stamp duty and registration fees in Ettayapuram are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000.