Guideline Value for Ettiyappa Nagar Extension

Ettiyappa Nagar Extension guideline value

The current guideline value of Ettiyappa Nagar Extension is Rs 1,300 per sq.ft, effective from 1 July 2024. This property is located in Madhavaram village, under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Ettiyappa Nagar Extension has changed

The guideline value for Ettiyappa Nagar Extension has seen several revisions over the years. The oldest recorded figure is from 2012, which was Rs 1,200 per sq.ft. In 2017, the value decreased to Rs 804 per sq.ft, a change of -33%. The 2023 revision brought the value back up to Rs 1,200 per sq.ft, and the current 2024 revision has increased it further to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

Between 2017 and 2023, the guideline value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Ettiyappa Nagar Extension is below this median.

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

Stamp duty and registration fee for property in Ettiyappa Nagar Extension

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

Which Sub Registrar Office covers Ettiyappa Nagar Extension?

The Ettiyappa Nagar Extension falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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 stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ettiyappa Nagar Extension?

The current guideline value of Ettiyappa Nagar Extension is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, with various revisions in between, including a decrease to Rs 804 per sq.ft in 2017.

What is the land classification of Ettiyappa Nagar Extension?

Ettiyappa Nagar Extension is classified as Residential Class III Type - I, which indicates its suitability for residential development.

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 the registration of properties in the Ettiyappa Nagar Extension area.

How is stamp duty calculated for properties in Ettiyappa Nagar Extension?

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