Guideline Value for ELITE ACRES

Elite Acres guideline value

The current guideline value of Elite Acres is Rs 1,800 per sq.ft, effective from 1 July 2024. This property is located in Ottiyampakkam village under the Selaiyur SRO, classified as Residential Special Type - V.

How the guideline value of Elite Acres has changed

The guideline value for Elite Acres has seen a revision in 2024, where it increased to Rs 1,800 per sq.ft from Rs 1,675 per sq.ft in 2023. This change represents a 7% increase from the previous year. Prior to that, the guideline value remained unchanged from 2017 to 2023, maintaining the figure of Rs 1,675 per sq.ft.

Looking further back, the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The overall change from the 2017 revision to the 2024 revision is also a 7% increase, reflecting the current value of Rs 1,800 per sq.ft.

Guideline values in Ottiyampakkam

In Ottiyampakkam, there are 88 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 4,300 per sq.ft. The median value for these streets is Rs 1,950 per sq.ft, placing Elite Acres below this median.

• Fairy Land Agriya: Rs 3,200 per sq.ft (2024)
• Gandhi Nagar: Rs 1,950 per sq.ft (2024)
• Gandhi Nagar Extension: Rs 1,950 per sq.ft (2024)
• Gandhi Nagar Main Road: Rs 1,950 per sq.ft (2024)
• Casa Grand Sereno: Rs 3,200 per sq.ft (2024)
• Blooming Garden: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Elite Acres

For a 1,000 sq.ft plot at the current rate of Rs 1,800 per sq.ft, the guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, totaling Rs 1,62,000. 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 details.

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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in the registration process of property transactions in Ottiyampakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, both parties must consider the guideline value to avoid any legal issues during registration. It serves as a reference point for pricing and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Elite Acres?

The current guideline value of Elite Acres is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2023 to Rs 1,800 per sq.ft in 2024, representing a 7% increase. There was no change from 2017 to 2023, maintaining the value at Rs 1,675 per sq.ft.

What is the land classification of Elite Acres?

Elite Acres is classified as Residential Special Type - V, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property in Elite Acres?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,800 per sq.ft, the total guideline value is Rs 18,00,000, leading to a stamp duty of Rs 1,26,000.