Guideline Value for Ezhil Nagar

Ezhil Nagar guideline value

The current guideline value for Ezhil Nagar, located in Panapakkam village under the Padappai SRO, is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Ezhil Nagar has changed

The guideline value for Ezhil Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. Following this, the 2023 revision increased it to Rs 500 per sq.ft, and the latest revision in 2024 has raised it further to Rs 550 per sq.ft. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Panapakkam

In Panapakkam, there are 28 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 990 per sq.ft, with a median value of Rs 770 per sq.ft. Ezhil Nagar's current guideline value is below this median.

• Ganapthipuram: Rs 990 per sq.ft (2024)
• Eligancia: Rs 770 per sq.ft (2024)
• Easwari Nagar: Rs 770 per sq.ft (2024)
• Dharanirajapuram: Rs 770 per sq.ft (2024)
• Blue Bird City Phase II: Rs 770 per sq.ft (2024)
• Balaji Nagar Part I: Rs 770 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 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total cost for these fees Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ezhil Nagar?

The Sub Registrar Office that covers Ezhil Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial aspect when registering property transactions in Panapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction, as it reflects the current market conditions set by the Registration Department. This ensures transparency and compliance with the local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Ezhil Nagar?

The current guideline value of Ezhil Nagar 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 Ezhil Nagar?

Ezhil Nagar falls under the Residential Class III Type - I land classification.

Where can I find the registration office for Ezhil Nagar?

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

How is stamp duty calculated for properties in Ezhil Nagar?

Stamp duty is 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 at the rate of 7%.