Guideline Value for ELITE ACRES

Elite Acres guideline value

The current guideline value of Elite Acres in Arasankalani village is Rs 2,700 per sq.ft, effective from 1 July 2024. This property falls under the Selaiyur SRO and is classified as Residential Class II Type - IV.

How the guideline value of Elite Acres has changed

The guideline value of Elite Acres has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, an increase from Rs 2,501 per sq.ft in 2023, marking an 8% rise. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, which shows a significant increase of 49% to the 2023 figure. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 61%. The consistent upward trend in the guideline value reflects changes in the property landscape in the area.

Guideline values in Arasankalani

In Arasankalani, there are 85 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 1,300 to Rs 4,750 per sq.ft. The median value for these streets is Rs 2,100 per sq.ft, placing the guideline value of Elite Acres above this median.

• Elite City: Rs 2,350 per sq.ft (2024)
• Durgaiamman Koil Street: Rs 1,300 per sq.ft (2024)
• Felixa Ragio: Rs 3,000 per sq.ft (2024)
• Dinesh Nagar: Rs 1,650 per sq.ft (2024)
• Ganesh Nagar: Rs 3,300 per sq.ft (2024)
• Ganthi Nagar: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Elite Acres

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Elite Acres?

The Sub Registrar Office that covers Elite Acres is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Arasankalani. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

At the time of registration, the guideline value or the sale price is considered, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Elite Acres?

The current guideline value of Elite Acres is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,675 per sq.ft in 2017 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 61% during this period.

What are the stamp duty and registration fees for property in Elite Acres?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Which office handles the registration for Elite Acres?

The Selaiyur Sub Registrar Office is responsible for handling registrations for properties in Elite Acres, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

What is the land classification of Elite Acres?

Elite Acres is classified as Residential Class II Type - IV, which defines its use and development potential within the area.