Guideline Value for ELITE CRYSTAL GATE

Elite Crystal Gate guideline value

The current guideline value of Elite Crystal Gate is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Kovilancheri village under the Tambaram Joint 1 SRO, classified as Mixed Type - III land.

How the guideline value of Elite Crystal Gate has changed

The guideline value for Elite Crystal Gate has undergone several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 1,500 per sq.ft. In the subsequent revision in 2023, the guideline value increased to Rs 2,500 per sq.ft, reflecting a 67% increase from the 2017 figure. The latest revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 2,750 per sq.ft.

It is important to note that there are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 83%.

Guideline values in Kovilancheri

Kovilancheri village has 13 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,130 per sq.ft. The median guideline value for these streets is Rs 1,660 per sq.ft, placing the 2024 figure for Elite Crystal Gate above this median.

• El Castillo: Rs 4,110 per sq.ft (2024)
• Durapathyamman Nagar: Rs 1,100 per sq.ft (2024)
• Bhavani Ngar: Rs 1,100 per sq.ft (2024)
• Akshayam Diamond Avenue: Rs 4,130 per sq.ft (2024)
• Aiswarya Nagar: Rs 1,660 per sq.ft (2024)
• Rakeshsharma Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Elite Crystal Gate

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Elite Crystal Gate?

The Sub Registrar Office that covers Elite Crystal Gate is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Kovilancheri. It serves as the basis for calculating stamp duty and registration fees when a property is bought or sold. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

During the registration process, the guideline value is compared with the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, ensuring that all transactions are fairly assessed according to the established rates.

Frequently asked questions

What is the current guideline value of Elite Crystal Gate?

The current guideline value of Elite Crystal Gate is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,500 per sq.ft to Rs 2,750 per sq.ft in 2024, marking an overall increase of 83%.

What are the other streets in Kovilancheri with their guideline values?

Other streets in Kovilancheri include El Castillo at Rs 4,110 per sq.ft, Durapathyamman Nagar at Rs 1,100 per sq.ft, and Aiswarya Nagar at Rs 1,660 per sq.ft, among others.

How is the stamp duty calculated for properties in Elite Crystal Gate?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.

Where can I find the Sub Registrar Office for Elite Crystal Gate?

The Sub Registrar Office for Elite Crystal Gate is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.