Guideline Value for Esthar Garden 2nd Cross Street

Esthar Garden 2nd Cross Street guideline value

The current guideline value of Esthar Garden 2nd Cross Street is Rs 1,900 per sq.ft, effective from 1 July 2024. 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 2nd Cross Street has changed

The guideline value for Esthar Garden 2nd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged in the 2023 revision, where it was also Rs 1,800 per sq.ft. However, in the 2024 revision, the value increased to Rs 1,900 per sq.ft, marking a 6% rise from the previous year.

Looking further back, the 2017 revision recorded a guideline value of Rs 1,206 per sq.ft, which represented a significant increase of 49% compared to the 2023 figure. The 2012 to 2017 period saw a decrease of 33%, as the value dropped from Rs 1,800 per sq.ft to Rs 1,206 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 6%.

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, with a median value of Rs 2,400 per sq.ft. The guideline value of Esthar Garden 2nd Cross Street is below this median.

• Esthar Garden 1st Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 2nd Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 1st Cross 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 2nd 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 amounts to Rs 19,00,000. The stamp duty is charged at 7%, which totals Rs 1,33,000, while the registration fee is 2%, amounting to Rs 38,000. Therefore, the total cost for stamp duty and registration fee together is Rs 1,71,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Esthar Garden 2nd Cross Street?

The Sub Registrar Office that covers Esthar Garden 2nd 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 more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers must ensure that the sale price is either equal to or higher than the guideline value to avoid any discrepancies.

When registering a property, the authorities will assess the guideline value to calculate the applicable fees. This ensures that all transactions are transparent and adhere to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Esthar Garden 2nd Cross Street?

The current guideline value of Esthar Garden 2nd 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 changed from Rs 1,800 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, with various revisions in between. The most significant change was a 49% increase from Rs 1,206 per sq.ft in 2017 to Rs 1,800 per sq.ft in 2023.

What is the land classification for Esthar Garden 2nd Cross Street?

Esthar Garden 2nd Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties 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.

Where can I find the Sub Registrar Office for Esthar Garden 2nd Cross Street?

The Selaiyur Sub Registrar Office covers Esthar Garden 2nd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.