Guideline Value for ELCOT AVENUE MAIN ROAD

Elcot Avenue Main Road guideline value

The current guideline value of Elcot Avenue Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Elcot Avenue Main Road has changed

The guideline value for Elcot Avenue Main Road has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 4,500 per sq.ft, which increased to Rs 5,000 per sq.ft in 2024, marking an increase of 11%.

Prior to 2023, there were no available figures for the street in the revisions from 2002 to 2017. The 2024 revision reflects a significant update in the valuation of this property, aligning it with the current market conditions.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value in this area is Rs 2,200 per sq.ft, placing the guideline value of Elcot Avenue Main Road above this median.

• Elcot Avenue 1st Street: Rs 5,000 per sq.ft (2024)
• Elcot Avenue Main Street Extension: Rs 5,000 per sq.ft (2024)
• Ela Rajamanickam Street: Rs 2,200 per sq.ft (2024)
• Ellammal Thottam: Rs 1,700 per sq.ft (2024)
• Ekambaram Street: Rs 2,800 per sq.ft (2024)
• Ellen Sharma School Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Elcot Avenue Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty at 7% would amount to Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total costs together to Rs 4,50,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Elcot Avenue Main Road?

The Sub Registrar Office that covers Elcot Avenue Main Road is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor when registering property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is recorded accurately and fairly. It is essential to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Elcot Avenue Main Road?

The current guideline value of Elcot Avenue Main Road is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Elcot Avenue Main Road increased from Rs 4,500 per sq.ft in 2023 to Rs 5,000 per sq.ft in 2024, marking an 11% increase. There are no figures available for the revisions from 2002 to 2017.

What is the land classification for Elcot Avenue Main Road?

The land classification for Elcot Avenue Main Road is Residential Special Type - IV. This classification is important for determining the usage and potential of the property.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. This office handles all registrations for properties in the area.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It acts as a reference point to ensure that the transaction is recorded accurately and fairly in the official records.