Guideline Value for Ettiappan Nagar (Ward-29)

Ettiappan Nagar (Ward-29) guideline value

The current guideline value of Ettiappan Nagar (Ward-29) is Rs 1,300 per sq.ft, effective from the 2024 revision. This area is part of Madhavaram village, falling under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Ettiappan Nagar (Ward-29) has changed

Over the years, the guideline value for Ettiappan Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. The 2023 revision increased the value back to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

The guideline values for streets in Madhavaram range from Rs 1,300 to Rs 7,500 per sq.ft as per the 2024 revision, with a median value of Rs 1,600 per sq.ft. Ettiappan Nagar's 2024 guideline value is below this median.

• Ettiappan Nagar Kanniappan Street (Ward 29): Rs 1,300 per sq.ft (2024)
• Ettiappan Salai, Ponniammanmedu (Ward-22): Rs 1,300 per sq.ft (2024)
• Ettiappan Nagar Govindan Street (Ward 29): Rs 1,300 per sq.ft (2024)
• Ettiappan st (Ward No.22): Rs 1,300 per sq.ft (2024)
• Ethiraj Nagar (Ward-29): Rs 1,300 per sq.ft (2024)
• Ethiraj Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ettiappan Nagar (Ward-29)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ettiappan Nagar (Ward-29)?

The Sub Registrar Office that covers Ettiappan Nagar (Ward-29) 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 Madhavaram

The guideline value is a crucial factor during the registration of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the worth of the property in the eyes of the law. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ettiappan Nagar (Ward-29)?

The current guideline value of Ettiappan Nagar (Ward-29) is Rs 1,300 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 1,200 per sq.ft in 2012, decreasing to Rs 804 per sq.ft in 2017, and then rising to Rs 1,200 per sq.ft in 2023. The most recent revision in 2024 set it at Rs 1,300 per sq.ft.

What is the land classification of Ettiappan Nagar?

Ettiappan Nagar is classified as Residential Class III Type - I, indicating its suitability for residential purposes.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in Ettiappan Nagar and surrounding areas.

How is the stamp duty calculated for properties in Ettiappan Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000.