Guideline Value for Esthar Garden Street

Esthar Garden Street guideline value

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

Esthar Garden Street has undergone several revisions over the years. The 2012 revision set the guideline 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, marking a decline of 33%. However, the value saw a significant rise in the following revisions, reaching Rs 1,800 per sq.ft in 2023, and further increasing to Rs 1,900 per sq.ft in the 2024 revision, representing a 6% increase from the previous year.

From the 2017 revision to the 2023 revision, there was an impressive increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Esthar Garden Street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values 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, indicating that Esthar Garden Street's 2024 figure of Rs 1,900 per sq.ft is below this median.

• Esthar Garden Phase II: Rs 1,900 per sq.ft (2024)
• Esthar Garden Phase I: 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 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 at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total cost 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 information.

Which Sub Registrar Office covers Esthar Garden Street?

The Sub Registrar Office that covers Esthar Garden 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 details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on the established rates rather than arbitrary sale prices.

When a property is registered, the guideline value must be considered to ensure compliance with local regulations. Buyers and sellers should be aware that the guideline value can influence the overall transaction costs, making it essential to understand the current rates.

Frequently asked questions

What is the current guideline value of Esthar Garden Street?

The current guideline value of Esthar Garden 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 significantly from Rs 1,800 per sq.ft in 2012 to Rs 1,900 per sq.ft in 2024, with notable fluctuations in between, including a decrease to Rs 1,206 per sq.ft in 2017.

What are the stamp duty and registration fees for property in Esthar Garden Street?

For a 1,000 sq.ft plot, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000 based on the current guideline value.

Which office handles property registrations for Esthar Garden Street?

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

What is the land classification for Esthar Garden Street?

Esthar Garden Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.