Guideline Value for MahaSakthi Colony-Eswaran Koil Street

MahaSakthi Colony-Eswaran Koil Street guideline value

The current guideline value of MahaSakthi Colony-Eswaran Koil Street is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of MahaSakthi Colony-Eswaran Koil Street has changed

The guideline value for MahaSakthi Colony-Eswaran Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,474 per sq.ft. Following this, the 2023 revision increased the value to Rs 2,200 per sq.ft again, and the most recent 2024 revision has set it at Rs 2,400 per sq.ft, marking a 9% increase from the previous year.

In terms of percentage changes, the guideline value rose by 49% from 2017 to 2023, while there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing MahaSakthi Colony-Eswaran Koil Street above this median.

• Maha Sakthi Colony 5th Cross Street: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony (Gandhi Street): Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony 4th Cross Street: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony (Kakkan Street): Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony 3rd Street: Rs 2,400 per sq.ft (2024)
• Maha Sakthi Colony Main Road Extn: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in MahaSakthi Colony-Eswaran Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, resulting in a total of Rs 2,16,000. Duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers MahaSakthi Colony-Eswaran Koil Street?

The MahaSakthi Colony-Eswaran Koil Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property in Chembakkam, as it determines the minimum value at which the property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When a property is sold, the guideline value serves as a benchmark for calculating stamp duty and registration fees. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of MahaSakthi Colony-Eswaran Koil Street?

The current guideline value of MahaSakthi Colony-Eswaran Koil Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification for MahaSakthi Colony-Eswaran Koil Street?

The land classification for MahaSakthi Colony-Eswaran Koil Street is Residential Special Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Chembakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate for stamp duty is 7%, while the registration fee is 2% of the guideline value.