Guideline Value for Ezhil Nagar

Ezhil Nagar guideline value

The current guideline value of Ezhil Nagar in Ayappakkam village under the Ambattur SRO is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Ezhil Nagar has changed

The guideline value for Ezhil Nagar has undergone several revisions over the years. Starting from Rs 100 per sq.ft in 2003, it increased significantly to Rs 600 per sq.ft in 2007, marking a 500% rise. The value then saw a 100% increase in 2012, reaching Rs 1,200 per sq.ft. However, it dropped to Rs 804 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 1,200 per sq.ft in 2023, and currently stands at Rs 1,300 per sq.ft as of the 2024 revision, reflecting an 8% increase from the previous year.

It is important to note that there is no figure available for Ezhil Nagar in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1200%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO, with a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value is Rs 1,300 per sq.ft, which is equal to the current value of Ezhil Nagar.

• Ezhil nagar(1st,2nd,3rd street): Rs 1,300 per sq.ft (2024)
• Ezhil nagar 4th street(Ezhil nagar): Rs 1,300 per sq.ft (2024)
• Ezhil nagar 5th street(Ezhil nagar): Rs 1,300 per sq.ft (2024)
• Ezhil nagar 6th street(Ezhil nagar): Rs 1,300 per sq.ft (2024)
• Ezhil nagar 7th street(Ezhil nagar): Rs 1,300 per sq.ft (2024)
• E.V. Ramaswamy Street (Gayathiri Nagar): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Ezhil Nagar

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, totaling Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ezhil Nagar?

The Sub Registrar Office covering Ezhil Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ayappakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements and to avoid any discrepancies during property transactions.

When a property is sold, the guideline value is used to assess the applicable stamp duty and registration fees. This ensures that the government receives the correct amount of revenue based on the property's value as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Ezhil Nagar?

The current guideline value of Ezhil Nagar 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 100 per sq.ft in 2003 to Rs 1,300 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification of Ezhil Nagar?

Ezhil Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Ezhil Nagar?

The Sub Registrar Office for Ezhil Nagar is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated in Ezhil Nagar?

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