Guideline Value for WEST SIDE MAIN ROAD

West Side Main Road guideline value

The current guideline value of West Side Main Road, located in Ekkaduthangal village, is Rs 4,620 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of West Side Main Road has changed

The guideline value for West Side Main Road has undergone several revisions over the years. In 2002, the value was Rs 350 per sq.ft, which increased to Rs 404 per sq.ft in 2003, marking a 15% rise. The value saw a significant jump to Rs 1,000 per sq.ft in 2007, representing a 148% increase. By 2012, the value was Rs 4,200 per sq.ft, up 320% from the previous revision. However, it dropped to Rs 2,814 per sq.ft in 2017, a decrease of 33%.

In 2023, the value rose again to Rs 4,200 per sq.ft, and in the latest revision for 2024, it increased to Rs 4,620 per sq.ft, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 1,220%.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The guideline value of West Side Main Road is equal to the median value of Rs 4,620 per sq.ft. Below are other streets in Ekkaduthangal:

• West First Bungalow Street: Rs 4,620 per sq.ft (2024)
• V.V. Koil Street: Rs 3,520 per sq.ft (2024)
• 120 Feet Road West Side: Rs 8,800 per sq.ft (2024)
• V.O.C. Street: Rs 3,520 per sq.ft (2024)
• Vivekananda Street: Rs 3,520 per sq.ft (2024)
• Visalatchi Nagar 3rd Street: Rs 6,610 per sq.ft (2024)

Stamp duty and registration fee for property in West Side Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,620 per sq.ft, the total guideline value is Rs 46,20,000. The stamp duty at 7% would be Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, totaling Rs 4,15,800. 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 West Side Main Road?

The West Side Main Road is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer and seller must consider the guideline value to ensure that the correct fees are calculated. The registration office uses this value to assess the appropriate stamp duty based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of West Side Main Road?

The current guideline value of West Side Main Road is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 350 per sq.ft in 2002 to Rs 4,620 per sq.ft in 2024, reflecting an overall increase of 1,220% over the years.

What are the stamp duty and registration fees for properties on this road?

For a 1,000 sq.ft property on West Side Main Road, the total guideline value is Rs 46,20,000, with a stamp duty of Rs 3,23,400 and a registration fee of Rs 92,400, totaling Rs 4,15,800.

Which office handles the registration for West Side Main Road?

The Chennai South Joint I Sub Registrar Office handles registrations for West Side Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for West Side Main Road?

West Side Main Road is classified as Residential Class II Type - I, which is relevant for determining the guideline value and other regulatory aspects.