Guideline Value for Esther Nagar

Esther Nagar guideline value

The current guideline value of Esther Nagar, located in Salamangalam village under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Esther Nagar has changed

The guideline value for Esther Nagar has undergone several revisions over the years. In 2007, the value was set at Rs 100 per sq.ft, which increased significantly to Rs 400 per sq.ft in 2012, marking a 300% rise. However, the value remained unchanged at Rs 400 per sq.ft from 2012 until the 2017 revision, where it decreased to Rs 268 per sq.ft, a drop of 33%. The value then rose again to Rs 400 per sq.ft in 2023, maintaining this rate through to the 2024 revision, resulting in a 49% increase from 2017 to 2023.

For the years 2002 and 2003, the register has no figure for this street. Overall, from 2007 to 2024, the guideline value has seen a total increase of 300%, stabilizing at Rs 400 per sq.ft in the latest revision.

Guideline values in Salamangalam

In Salamangalam, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 3,100 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value of Esther Nagar is below this median.

• Empire Avenue: Rs 400 per sq.ft (2024)
• Fine Star Nagar: Rs 550 per sq.ft (2024)
• Ganapathy Nagar: Rs 400 per sq.ft (2024)
• Durgai Amman Nagar: Rs 550 per sq.ft (2024)
• Gokul Nagar: Rs 600 per sq.ft (2024)
• Green Avenue: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Esther Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty, charged at 7%, would be Rs 28,000, while the registration fee at 2% would be Rs 8,000. Together, these fees total Rs 36,000. It is important to note that the 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 Esther Nagar?

The Sub Registrar Office that covers Esther Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Salamangalam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This value is essential for ensuring that the transaction is registered correctly and that all legal requirements are met.

Additionally, the guideline value provides a benchmark for property prices in the area, helping both buyers and sellers to understand the financial implications of their transactions. It is important to consider this value when making any property-related decisions.

Frequently asked questions

What is the current guideline value of Esther Nagar?

The current guideline value of Esther Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with notable revisions in 2007, 2012, 2017, 2023, and 2024. The most significant change was from Rs 100 per sq.ft in 2007 to Rs 400 per sq.ft in 2012, and it has remained at Rs 400 per sq.ft since 2023.

What are the stamp duty and registration fees for properties in Esther Nagar?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Esther Nagar?

The Sriperumpudur Sub Registrar Office covers Esther Nagar, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

What is the land classification of Esther Nagar?

Esther Nagar is classified as Residential Class I Type - I, indicating its designation for residential use within the area.