Guideline Value for E.S.I. Hospital Street

E.S.I. Hospital Street guideline value

The current guideline value of E.S.I. Hospital Street is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village under the Sembiam SRO, and it is classified as Residential Special Type - II.

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

The guideline value for E.S.I. Hospital Street has seen several revisions over the years. In 2002, the value was Rs 325 per sq.ft, which increased to Rs 354 per sq.ft in 2003. The following revisions were significant, with the value rising to Rs 1,300 per sq.ft in 2007, then to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017 before increasing again to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 3,301 per sq.ft.

Between these revisions, there were notable changes. From 2002 to 2003, the increase was +9%. The value saw a substantial rise of +267% from 2003 to 2007. The increase from 2007 to 2012 was +131%, but it dropped by -33% from 2012 to 2017. From 2017 to 2023, the value rose by +49%, and the most recent change from 2023 to 2024 is +10%. Overall, from 2002 to 2024, the guideline value has increased by +916%.

Guideline values in Peravallur

In Peravallur village, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, which is equal to the guideline value of E.S.I. Hospital Street.

• Elumalai Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Elumalai Street (George Colony): Rs 4,200 per sq.ft (2024)
• Elango Salai 70 Feet Street: Rs 4,900 per sq.ft (2024)
• DuraiSamy Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Gandhimathi 1st Lane (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)
• Gandhimathi 2nd Lane (Vetri Nagar Extension): Rs 3,301 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers E.S.I. Hospital Street?

The Sub Registrar Office that covers E.S.I. Hospital Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Peravallur. It serves as the basis for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When registering a property, the guideline value helps determine the minimum value at which the property can be sold. This ensures that the government receives appropriate revenue from property transactions and helps maintain transparency in the real estate market.

Frequently asked questions

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

The current guideline value of E.S.I. Hospital Street is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed through several revisions, increasing from Rs 325 per sq.ft in 2002 to Rs 3,301 per sq.ft in 2024, with various fluctuations in between.

What is the land classification of E.S.I. Hospital Street?

E.S.I. Hospital Street is classified as Residential Special Type - II.

What are the other streets in Peravallur with similar guideline values?

Other streets in Peravallur, such as Elumalai Street (Vetri Nagar) and DuraiSamy Street (Vetri Nagar), also have a guideline value of Rs 3,301 per sq.ft in 2024.

How is the stamp duty calculated for properties in E.S.I. Hospital Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,31,070.