Guideline Value for Esthar Garden Phase II

Esthar Garden Phase II guideline value

The current guideline value of Esthar Garden Phase II is Rs 1,900 per sq.ft, effective from 1 July 2024. This property is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Esthar Garden Phase II has changed

The guideline value for Esthar Garden Phase II has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,206 per sq.ft, reflecting a drop of 33%. The value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision has set the value at Rs 1,900 per sq.ft, a 6% increase from the previous year.

It is important to note that the guideline value register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 6%.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO, with guideline values for 2024 ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing Esthar Garden Phase II's 2024 figure below that median.

• Esthar Garden Phase I: Rs 1,900 per sq.ft (2024)
• Esthar Garden Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden Main Road: Rs 1,900 per sq.ft (2024)
• Esthar Garden 4th Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 3rd Street: Rs 1,900 per sq.ft (2024)
• Esthar Garden 3rd Cross street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Esthar Garden Phase II

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 at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to 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 specific calculations.

Which Sub Registrar Office covers Esthar Garden Phase II?

The Sub Registrar Office that covers Esthar Garden Phase II 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 is a crucial factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property in Madambakkam, it is essential to refer to the guideline value to understand the applicable stamp duty and registration fees.

At the time of registration, the authorities will assess the property based on the guideline value, ensuring that the transaction reflects the current market standards. This process helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Esthar Garden Phase II?

The current guideline value of Esthar Garden Phase II 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 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,71,000.

Which office handles registrations for Esthar Garden Phase II?

The Selaiyur Sub Registrar Office handles registrations for Esthar Garden Phase II, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the median guideline value for streets in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, while Esthar Garden Phase II's current value is below this median.