Guideline Value for ELITE GRAND CITY

Elite Grand City guideline value

The current guideline value of Elite Grand City is Rs 1,000 per sq.ft, effective from 1 July 2024. This property is located in Nelllikuppam village, under the Thiruporur Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of Elite Grand City has changed

The guideline value for Elite Grand City has seen several revisions over the years. The most recent revision in 2024 maintains the value at Rs 1,000 per sq.ft, the same as the previous revision in 2023. Prior to that, in 2017, the guideline value was Rs 670 per sq.ft, marking a significant increase of 49% from 2017 to 2023 and an overall increase of 49% from 2017 to 2024.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. The consistent value of Rs 1,000 per sq.ft from 2023 to 2024 indicates stability in the guideline value during that period.

Guideline values in Nelllikuppam

Nelllikuppam has a total of 45 streets under the Thiruporur SRO that carry a 2024 guideline value, ranging from Rs 400 to Rs 1,600 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, placing Elite Grand City at the median for 2024.

• Elite Grand City Annex: Rs 1,000 per sq.ft (2024)
• Elite Grand City Phase II: Rs 1,493 per sq.ft (2024)
• Elite Grand City Phase III: Rs 1,493 per sq.ft (2024)
• Elite Grand City Phase IV: Rs 1,493 per sq.ft (2024)
• Elite Grand City Phase V: Rs 1,000 per sq.ft (2024)
• Elite Grand City Phase VI: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Elite Grand City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Elite Grand City?

The Sub Registrar Office that covers Elite Grand City is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Nelllikuppam. It determines the minimum value at which a property can be registered, influencing both the stamp duty and registration fees applicable during the sale or purchase process.

When buying or selling a property, the guideline value ensures that transactions are recorded at a fair value, preventing undervaluation. This helps maintain transparency and accountability in real estate dealings within the region.

Frequently asked questions

What is the current guideline value of Elite Grand City?

The current guideline value of Elite Grand City is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in 2024, reflecting a 49% increase over the period.

What is the land classification for Elite Grand City?

Elite Grand City is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Thiruporur Sub Registrar Office?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is stamp duty calculated in Elite Grand City?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 70,000.