Guideline Value for Bishop Esra Nagar

Bishop Esra Nagar guideline value

The current guideline value of Bishop Esra Nagar, located in Madhavaram village, is Rs 1,300 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification. The area is registered under the Madhavaram Sub Registrar Office (SRO).

How the guideline value of Bishop Esra Nagar has changed

The guideline value for Bishop Esra Nagar has seen revisions over the years. The earliest available revision is from 2012, where the value was Rs 1,200 per sq.ft. The most recent revision in 2024 has increased this value to Rs 1,300 per sq.ft, marking an increase of 8% from the 2012 figure.

There are no registered figures for the years 2002, 2003, 2007, 2017, and 2023 for this street. Therefore, the only available revisions are from 2012 and 2024.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, indicating that Bishop Esra Nagar's 2024 figure is below this median.

• Binny Nagar Main Rd ( Ward No.4): Rs 1,300 per sq.ft (2024)
• Binny Nagar Cross st ( Ward No.4): Rs 1,300 per sq.ft (2024)
• Binny Colony: Rs 1,300 per sq.ft (2024)
• Big Street (Periya Salai): Rs 2,200 per sq.ft (2024)
• Bhavani Nagar (Ward-01): Rs 1,300 per sq.ft (2024)
• Bhavani Nagar, Lakshmipuram (Ward-26): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Bishop Esra Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 13,00,000. The stamp duty at 7% amounts to Rs 91,000, and the registration fee at 2% is 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 and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bishop Esra Nagar?

The Madhavaram Sub Registrar Office covers Bishop Esra Nagar. The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is in compliance with local regulations. This value helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Bishop Esra Nagar?

The current guideline value of Bishop Esra 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 increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, marking an 8% increase. There are no registered figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft. Bishop Esra Nagar's 2024 figure of Rs 1,300 per sq.ft is below this median.

What are the stamp duty and registration fees for property in Bishop Esra Nagar?

For a property valued at Rs 13,00,000, the stamp duty is Rs 91,000 and the registration fee is Rs 26,000, totaling Rs 1,17,000. The duty is charged on the higher of the guideline value and the sale price.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles registrations for properties in Bishop Esra Nagar.