Guideline Value for ELLAIAMMAN KOIL STREET

Ellaiamman Koil Street guideline value

The current guideline value of Ellaiamman Koil Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Ellaiamman Koil Street has changed

In the 2002 revision, the guideline value was Rs 743 per sq.ft. This increased to Rs 1,200 per sq.ft in 2003, marking a change of +62%. The value then rose to Rs 2,000 per sq.ft in 2007, reflecting a significant increase of +67%. Following this, the 2012 revision saw a decrease to Rs 8,000 per sq.ft, which was a drop of -300%. In 2017, the value was revised to Rs 5,360 per sq.ft, an increase of +49% from the previous figure. The 2023 revision set the value at Rs 8,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 8,800 per sq.ft, which is a change of +10%.

Overall, from 2002 to 2024, the guideline value has increased by +1084%. There are no figures available for the revisions in years other than those listed.

Guideline values in Mambalam

Mambalam has a total of 163 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value for the village is Rs 6,600 per sq.ft, placing Ellaiamman Koil Street's 2024 figure above this median.

• Easwaran Koil Street: Rs 6,600 per sq.ft (2024)
• Flower Street: Rs 12,100 per sq.ft (2024)
• Gandhi Lane: Rs 4,400 per sq.ft (2024)
• Gandhipuram 1 Cross Street: Rs 4,400 per sq.ft (2024)
• Gandhipuram 2 Cross Street: Rs 4,400 per sq.ft (2024)
• Gandhipuram 3rd Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Ellaiamman Koil Street

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. 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 Ellaiamman Koil Street?

The Sub Registrar Office that covers Ellaiamman Koil Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Mambalam. It serves as a reference point for calculating stamp duty and registration fees during the buying or selling process. Buyers and sellers must be aware of this value to ensure compliance with legal requirements.

When registering a property, the guideline value is used to assess the applicable duties. It is essential for both parties involved in the transaction to understand that the stamp duty is charged on the higher of the guideline value or the sale price, ensuring that the correct amount is paid to the authorities.

Frequently asked questions

What is the current guideline value of Ellaiamman Koil Street?

The current guideline value of Ellaiamman Koil Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 743 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, reflecting an overall increase of +1084% over this period.

What is the stamp duty rate for properties in Ellaiamman Koil Street?

The stamp duty rate for properties in Ellaiamman Koil Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ellaiamman Koil Street?

The Sub Registrar Office for Ellaiamman Koil Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

What is the land classification for Ellaiamman Koil Street?

The land classification for Ellaiamman Koil Street is Residential Special Type - II, indicating its designated use for residential purposes.