Guideline Value for ELEPHANT TANK 6TH STREET

Elephant Tank 6th Street guideline value

The current guideline value of Elephant Tank 6th 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 6th Street has changed

The guideline value for Elephant Tank 6th Street has undergone several revisions over the years. In 2002, the value was Rs 699 per sq.ft, which increased to Rs 777 per sq.ft in 2003, marking an increase of 11%. The value rose further to Rs 900 per sq.ft in 2007, representing a 16% increase. By 2012, the value had significantly increased to Rs 3,000 per sq.ft, reflecting a 233% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The value saw a substantial increase to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 372%. There are no figures available for the revisions in years not listed in the register for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Elephant Tank 6th Street is below this median.

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

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

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

Which Sub Registrar Office covers Elephant Tank 6th Street?

The Sub Registrar Office that covers Elephant Tank 6th 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 plays a crucial role in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the transaction. Buyers and sellers must consider this value to understand the financial implications of their property transactions.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that both parties are aware of the costs involved. This helps maintain transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Elephant Tank 6th Street?

The current guideline value of Elephant Tank 6th 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, showing an overall increase of 372% over the years.

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

For a 1,000 sq.ft property at the current guideline value, the total fees would amount to Rs 2,97,000, which includes stamp duty and registration fees.

Which Sub Registrar Office is responsible for Elephant Tank 6th Street?

The Mylapore Sub Registrar Office is responsible for Elephant Tank 6th Street, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions, ensuring transparency and compliance with local regulations.