Guideline Value for Esthar Garden Phase I

Esthar Garden Phase I guideline value

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

How the guideline value of Esthar Garden Phase I has changed

The guideline value for Esthar Garden Phase I has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,800 per sq.ft, and the most recent 2024 revision has raised it to Rs 1,900 per sq.ft.

Between the revisions, the guideline value saw a 49% increase from 2017 to 2023, followed by a 6% increase from 2023 to 2024. Overall, from 2012 to 2024, there has been a 6% increase in the guideline value. 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, with a median value of Rs 2,400 per sq.ft. The guideline value of Esthar Garden Phase I is below this median.

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

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 to Rs 1,71,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Esthar Garden Phase I?

Esthar Garden Phase I falls under the jurisdiction of 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 in Madambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Esthar Garden Phase I 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 to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the median guideline value in Madambakkam?

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

What are the stamp duty rates in Esthar Garden Phase I?

The stamp duty for properties in Esthar Garden Phase I is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.