Guideline Value for ELEPHANT TANK 4TH STREET

Elephant Tank 4th Street guideline value

The current guideline value of Elephant Tank 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Elephant Tank 4th Street has changed

The guideline value for Elephant Tank 4th Street has seen several revisions over the years. Starting from Rs 699 per sq.ft in 2002, the value increased to Rs 777 per sq.ft in 2003. By 2007, it rose significantly to Rs 900 per sq.ft, reflecting a change of 16%. The value then jumped to Rs 3,000 per sq.ft in 2012, marking a 233% increase. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023, and then it increased to Rs 3,300 per sq.ft in 2024, representing a 10% rise.

Overall, from 2002 to 2024, the guideline value has increased by 372%. There are no figures available for the revisions in years other than those specified.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Elephant Tank 4th Street's 2024 figure below that median.

• Elephant Tank 1st Street: Rs 3,300 per sq.ft (2024)
• Elephant Tank 2nd Street: Rs 3,300 per sq.ft (2024)
• Elephant Tank 3rd Street: Rs 3,300 per sq.ft (2024)
• Elephant Tank 4th Street: Rs 3,300 per sq.ft (2024)
• Elephant Tank 5th Street: Rs 3,300 per sq.ft (2024)
• Elephant Tank 6th Street: Rs 3,300 per sq.ft (2024)
• Ellayai Amman Koil Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Elephant Tank 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Elephant Tank 4th Street?

The Sub Registrar Office that covers Elephant Tank 4th Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more details.

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

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

When buying or selling property, it is essential to consider the guideline value, as it influences the overall cost of the transaction. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the actual sale price, which can impact the total expenses incurred during the property transfer.

Frequently asked questions

What is the current guideline value of Elephant Tank 4th Street?

The current guideline value of Elephant Tank 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 699 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 372% over this period.

What are the other streets in Mylapore with the same guideline value?

Other streets in Mylapore with the same 2024 guideline value of Rs 3,300 per sq.ft include Elephant Tank 1st Street, Elephant Tank 2nd Street, Elephant Tank 3rd Street, Elephant Tank 5th Street, Elephant Tank 6th Street, and Ellayai Amman Koil Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for Elephant Tank 4th Street?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.