Guideline Value for Empier Garden

Empier Garden guideline value

The current guideline value of Empier Garden, located in Jampuli village under the Madhavaram SRO, is Rs 1,700 per sq.ft. This guideline value is effective from 1 July 2024 and falls under the Residential Class IV Type - I land classification.

How the guideline value of Empier Garden has changed

The guideline value for Empier Garden has seen several revisions over the years. The earliest revision available is from 2012, where the value was Rs 1,600 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a significant decrease to Rs 1,072 per sq.ft. Following this, the value increased to Rs 1,600 per sq.ft in the 2023 revision, and most recently, it has risen to Rs 1,700 per sq.ft in the 2024 revision, marking a change of +6% from the previous year.

From 2017 to 2023, the guideline value increased by +49%. Overall, from 2012 to 2024, the value has seen a modest increase of +6%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value of Empier Garden is below this median.

• Elizabeth Thomas Nagar: Rs 1,700 per sq.ft (2024)
• De-Mondi Avenue: Rs 1,700 per sq.ft (2024)
• Corporation Road: Rs 1,700 per sq.ft (2024)
• Gopal Reddy Estate: Rs 1,700 per sq.ft (2024)
• Govindasamy Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Govindasamy Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Empier Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost to Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Empier Garden?

The Sub Registrar Office that covers Empier Garden is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Jampuli, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees during the property transaction process.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, making it essential for both parties to understand the current guideline value.

Frequently asked questions

What is the current guideline value of Empier Garden?

The current guideline value of Empier Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Empier Garden?

Empier Garden falls under the Residential Class IV Type - I land classification, which is relevant for determining the guideline value.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles property registrations for the area.

How is stamp duty calculated for properties in Jampuli?

Stamp duty for properties in Jampuli is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.