Guideline Value for Old E.S.I Street

Old E.S.I Street guideline value

The current guideline value of Old E.S.I Street is Rs 5,100 per sq.ft, effective from 1 July 2024. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Special Type - I.

How the guideline value of Old E.S.I Street has changed

The guideline value of Old E.S.I Street has undergone several revisions over the years. The oldest available revision is from 2012, where the value was Rs 4,700 per sq.ft. This was followed by a decrease to Rs 3,149 per sq.ft in 2017. The value increased significantly to Rs 4,700 per sq.ft again in 2023, and the latest revision in 2024 set the value at Rs 5,100 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 9% increase. Overall, the guideline value from 2012 to 2024 has seen a net increase of 9%.

Guideline values in Ambattur

In Ambattur, there are a total of 448 streets under the Ambattur SRO, with 2024 guideline values ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value among these streets is Rs 3,600 per sq.ft, making the guideline value of Old E.S.I Street above this median.

• Old Baroda Bank Street (Bank of Baroda Street): Rs 6,600 per sq.ft (2024)
• Old post office Road: Rs 6,600 per sq.ft (2024)
• Old township Road: Rs 6,600 per sq.ft (2024)
• Oragadam Cross Road: Rs 5,100 per sq.ft (2024)
• Oragadam Road: Rs 6,600 per sq.ft (2024)
• O.V .Alagesan Nagar: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Old E.S.I Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,100 per sq.ft, the total guideline value amounts to Rs 51,00,000. The stamp duty at 7% would be Rs 3,57,000, and the registration fee at 2% would be Rs 1,02,000, leading to a total of Rs 4,59,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Old E.S.I Street?

The Sub Registrar Office that covers Old E.S.I Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical component in the registration process for property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the value of the property being exchanged. It is essential for buyers to be aware of this value to ensure they are not overpaying, while sellers can use it to set realistic expectations for their property's worth during negotiations.

Frequently asked questions

What is the current guideline value of Old E.S.I Street?

The current guideline value of Old E.S.I Street is Rs 5,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,700 per sq.ft in 2012 to Rs 3,149 per sq.ft in 2017, then increased to Rs 4,700 per sq.ft in 2023, and finally to Rs 5,100 per sq.ft in 2024.

What is the land classification of Old E.S.I Street?

Old E.S.I Street is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in Old E.S.I Street?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 51,00,000, the total fees would amount to Rs 4,59,000.

Which office handles registrations for Old E.S.I Street?

The Ambattur Sub Registrar Office handles registrations for Old E.S.I Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.