Guideline Value for E.S.I Colony

E.S.I Colony guideline value

The current guideline value of E.S.I Colony in Zaminpallavaram village, under the Pallavaram SRO, is Rs 3,520 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of E.S.I Colony has changed

The guideline value for E.S.I Colony has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 690 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, a rise of approximately 45%. By 2012, the value jumped significantly to Rs 3,200 per sq.ft, marking a substantial increase of 220%. However, it saw a decrease to Rs 2,144 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 3,200 per sq.ft in 2023, before reaching the current figure of Rs 3,520 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 410%. The register has no figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing E.S.I Colony's 2024 figure above this median.

• Erikarai Street: Rs 2,750 per sq.ft (2024)
• Erikarai Ora Street: Rs 3,300 per sq.ft (2024)
• Ethiraj Colony: Rs 3,300 per sq.ft (2024)
• Ethiraj Street: Rs 2,750 per sq.ft (2024)
• Erattai Malai Srinivasan Street: Rs 2,750 per sq.ft (2024)
• English Electricl Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in E.S.I Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, bringing the total fees to Rs 3,16,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers E.S.I Colony?

The E.S.I Colony is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value assigned to the property by the government. This value is essential for calculating the stamp duty and registration fees, which are mandatory during the registration process.

Frequently asked questions

What is the current guideline value of E.S.I Colony?

The current guideline value of E.S.I Colony is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the earliest figure in 2003 being Rs 690 per sq.ft and increasing to Rs 3,520 per sq.ft in 2024. The largest increase occurred between 2007 and 2012, while there was a decrease from 2012 to 2017.

What is the land classification of E.S.I Colony?

The land classification for E.S.I Colony is Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in E.S.I Colony?

For a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 and the registration fee would be Rs 70,400, totaling Rs 3,16,800. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for E.S.I Colony?

The Pallavaram Sub Registrar Office handles registrations for E.S.I Colony, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.