Guideline Value for E.S.I. HOSPITAL STAFF QUARTERS

E.S.I. Hospital Staff Quarters guideline value

The current guideline value for E.S.I. Hospital Staff Quarters is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Purasaivakkam village under the Purasaivakkam SRO, classified as Residential Class V Type - II.

How the guideline value of E.S.I. Hospital Staff Quarters has changed

The guideline value for E.S.I. Hospital Staff Quarters has seen several revisions over the years. The earliest recorded value was Rs 650 per sq.ft in 2007, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, and the most recent revision has set the value at Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 238%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median value for these streets is Rs 5,500 per sq.ft, placing E.S.I. Hospital Staff Quarters below this median.

• Erron Street: Rs 5,500 per sq.ft (2024)
• Ethiraj Garden Lane: Rs 4,900 per sq.ft (2024)
• Ethiraj Garden Street: Rs 4,900 per sq.ft (2024)
• Emi Street: Rs 4,900 per sq.ft (2024)
• E.V.K Sampath Street (A) Rundalls Road Part: Rs 14,300 per sq.ft (2024)
• E.V.R. Periyar 1st Lane: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in E.S.I. Hospital Staff Quarters

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers E.S.I. Hospital Staff Quarters?

The E.S.I. Hospital Staff Quarters falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Purasaivakkam. It serves as a benchmark for assessing the value of the property and determining the applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for E.S.I. Hospital Staff Quarters?

The current guideline value for E.S.I. Hospital Staff Quarters is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 238% over this period.

What is the land classification for E.S.I. Hospital Staff Quarters?

The land classification for E.S.I. Hospital Staff Quarters is Residential Class V Type - II.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Where can I find the Sub Registrar Office for E.S.I. Hospital Staff Quarters?

The Sub Registrar Office covering E.S.I. Hospital Staff Quarters is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your specific SRO using the provided link.