Guideline Value for Esra Nagar (Ward-08)

Esra Nagar (Ward-08) guideline value

The current guideline value of Esra Nagar (Ward-08) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Esra Nagar (Ward-08) has changed

Over the years, the guideline value of Esra Nagar has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has set it at Rs 1,300 per sq.ft. The changes between these revisions include a 49% increase from 2017 to 2023, an 8% increase from 2023 to 2024, and a 33% decrease from 2012 to 2017. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

From the overall perspective, the guideline value has increased by 8% from the 2012 revision to the 2024 revision. The current guideline value of Rs 1,300 per sq.ft is below the median value of Rs 1,600 per sq.ft for the 1,946 streets in Madhavaram under the Madhavaram SRO, which range from Rs 1,300 to Rs 7,500 per sq.ft.

Guideline values in Madhavaram

In Madhavaram, the guideline values vary significantly, with the 2024 figures ranging from Rs 1,300 to Rs 7,500 per sq.ft. The current guideline value for Esra Nagar (Ward-08) is below the median value of Rs 1,600 per sq.ft. Other streets in Madhavaram include:

• Eswaran Koil st (Ward No.9): Rs 1,300 per sq.ft (2024)
• Eswaran Koi st Perumal Koil st (Ward No.9): Rs 1,300 per sq.ft (2024)
• Eswari Nagar: Rs 1,300 per sq.ft (2024)
• Eswari Nagar (Ward No.7): Rs 1,300 per sq.ft (2024)
• Ethiraj Nagar: Rs 1,300 per sq.ft (2024)
• Ethiraj Nagar (Ward-29): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Esra Nagar (Ward-08)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Esra Nagar (Ward-08)?

The Sub Registrar Office that covers Esra Nagar (Ward-08) 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 Madhavaram

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is recorded at a value that is recognized by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. The guideline value is updated periodically, reflecting changes in the real estate market and local developments.

Frequently asked questions

What is the current guideline value of Esra Nagar (Ward-08)?

The current guideline value of Esra Nagar (Ward-08) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 1,200 per sq.ft in 2023, Rs 804 per sq.ft in 2017, and Rs 1,200 per sq.ft in 2012. The most recent revision in 2024 increased the value to Rs 1,300 per sq.ft.

What is the land classification of Esra Nagar?

Esra Nagar is classified as Residential Class III Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Esra Nagar?

For a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 13,00,000. The stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers Esra Nagar (Ward-08)?

The Madhavaram Sub Registrar Office covers Esra Nagar (Ward-08), located at No.7, Roja Nagar, Madhavaram, Chennai-600060.