Guideline Value for ESSRA NAGAR

Essra Nagar guideline value

The current guideline value of Essra Nagar is Rs 3,290 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village under the Pammal SRO, classified as Commercial Class I Type - I.

How the guideline value of Essra Nagar has changed

The guideline value for Essra Nagar has seen several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 2,010 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,290 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Essra Nagar is above this median.

• Ganapathy Nagar: Rs 1,980 per sq.ft (2024)
• Gandhi Street: Rs 1,650 per sq.ft (2024)
• Dharmaraja koil Street (ward 4): Rs 2,200 per sq.ft (2024)
• Devi Karumariamman Nagar: Rs 2,200 per sq.ft (2024)
• Gimberly Garden: Rs 2,200 per sq.ft (2024)
• Good Will Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Essra Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,290 per sq.ft, the total guideline value would be Rs 32,90,000. The stamp duty at 7% would be Rs 2,30,300, and the registration fee at 2% would be Rs 65,800, making the total cost for these fees Rs 2,96,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Essra Nagar?

Essra Nagar falls under the jurisdiction of the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 Kolapakkam

The guideline value is a crucial factor during the registration of property transactions in Kolapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring that these costs are calculated based on the official valuation set by the government.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and fairness in the transaction process, as the guideline value is updated periodically to reflect current market conditions.

Frequently asked questions

What is the current guideline value of Essra Nagar?

The current guideline value of Essra Nagar is Rs 3,290 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,290 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification of Essra Nagar?

Essra Nagar is classified as Commercial Class I Type - I, indicating its designated use for commercial activities.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated in Essra Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 32,90,000, the stamp duty would be Rs 2,30,300 at a rate of 7%.