Guideline Value for Essaiya Street

Essaiya Street guideline value

The current guideline value of Essaiya Street in Kathirvedu village, under the Ambattur SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Essaiya Street has changed

The guideline value of Essaiya Street has undergone several revisions over the years. In 2002, the guideline value was Rs 67 per sq.ft, which increased to Rs 80 per sq.ft in 2003. Following this, the value rose significantly to Rs 200 per sq.ft in 2007, marking a 150% increase. The value then saw a substantial jump to Rs 1,000 per sq.ft in 2012, which was a 400% increase from the previous revision. However, it decreased to Rs 670 per sq.ft in 2017, reflecting a 33% drop. The guideline value then rose to Rs 1,000 per sq.ft in 2023, before reaching the current value of Rs 1,100 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1542%. The register has no figures for the years not mentioned in the revisions above.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value of Essaiya Street is below this median.

• Erattaimalai Srinivasan Street: Rs 1,300 per sq.ft (2024)
• Elumalai Nagar: Rs 1,300 per sq.ft (2024)
• Ganabathy Nagar (or) Golden Nagar: Rs 1,500 per sq.ft (2024)
• Gandhi Street: Rs 1,100 per sq.ft (2024)
• Co-Operative Nagar (Government Co-Op Nagar): Rs 1,900 per sq.ft (2024)
• Green View (Tamil Nadu Officiers Co-Operative Housing Society): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Essaiya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. 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 Essaiya Street?

The Sub Registrar Office that covers Essaiya Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Kathirvedu. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value serves as a reference point for the transaction. It helps in establishing a baseline for the value of the property, ensuring that the fees are calculated accurately based on the established rates.

Frequently asked questions

What is the current guideline value of Essaiya Street?

The current guideline value of Essaiya Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 67 per sq.ft in 2002 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 1542% over this period.

What are the stamp duty and registration fees for property on Essaiya Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000. The stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Essaiya Street?

Essaiya Street falls under the jurisdiction of the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What is the land classification of Essaiya Street?

Essaiya Street is classified under Residential Class IV Type - I as per the land classification guidelines.