Guideline Value for Well Street (Ethirajapuram)

Well Street (Ethirajapuram) guideline value

The current guideline value of Well Street (Ethirajapuram) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Well Street (Ethirajapuram) has changed

The guideline value for Well Street (Ethirajapuram) has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram, there are a total of 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Well Street (Ethirajapuram).

• West Street: Rs 3,300 per sq.ft (2024)
• V.V. Avenue: Rs 2,200 per sq.ft (2024)
• V.O.C. Street: Rs 6,600 per sq.ft (2024)
• Vishnu Nagar extn: Rs 2,200 per sq.ft (2024)
• Vishnu Nagar: Rs 2,200 per sq.ft (2024)
• Vinayaga Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Well Street (Ethirajapuram)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Well Street (Ethirajapuram)?

The Sub Registrar Office that covers Well Street (Ethirajapuram) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Tambaram. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for any property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions as assessed by the Registration Department.

Frequently asked questions

What is the current guideline value of Well Street (Ethirajapuram)?

The current guideline value of Well Street (Ethirajapuram) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Well Street (Ethirajapuram)?

Well Street (Ethirajapuram) is classified as Residential Class I Type - I, indicating its suitability for residential development.

What is the registration office for Well Street (Ethirajapuram)?

The registration office for Well Street (Ethirajapuram) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Well Street (Ethirajapuram)?

Stamp duty for properties in Well Street (Ethirajapuram) is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.