Guideline Value for Esthar Garden 1st Cross Street

Esthar Garden 1st Cross Street guideline value

The current guideline value of Esthar Garden 1st Cross Street is Rs 1,900 per sq.ft. This street is located in Madambakkam village under the Selaiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Esthar Garden 1st Cross Street has changed

In 2012, the guideline value for Esthar Garden 1st Cross Street was Rs 1,800 per sq.ft. This figure remained until the next revision in 2017, where it decreased significantly to Rs 1,206 per sq.ft. Following this, the value increased to Rs 1,800 per sq.ft in 2023, and then to Rs 1,900 per sq.ft in the 2024 revision.

The changes between the revisions show a decrease of 33% from 2012 to 2017, followed by a substantial increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects an increase of 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Esthar Garden 1st Cross Street's 2024 figure below that median.

• Esthar Garden 1st Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 2nd Cross Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 2nd Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 3rd Cross street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 3rd Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 4th Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Esthar Garden 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, leading to a total of Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Esthar Garden 1st Cross Street?

The Sub Registrar Office that covers Esthar Garden 1st Cross Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor during the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers are aware of the minimum value assigned to the property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures transparency and helps in maintaining a standardized valuation for properties in the area.

Frequently asked questions

What is the current guideline value of Esthar Garden 1st Cross Street?

The current guideline value of Esthar Garden 1st Cross Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 1,800 per sq.ft in 2012, decreasing to Rs 1,206 per sq.ft in 2017, increasing to Rs 1,800 per sq.ft in 2023, and finally reaching Rs 1,900 per sq.ft in 2024.

What is the land classification for Esthar Garden 1st Cross Street?

Esthar Garden 1st Cross Street is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000, and the registration fee would be Rs 38,000, totaling Rs 1,71,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Esthar Garden 1st Cross Street?

The Selaiyur Sub Registrar Office, which covers Esthar Garden 1st Cross Street, is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.