Guideline Value for ELLAIAMMAN NAGAR 1st STREET

ELLAIAMMAN NAGAR 1st STREET guideline value

The current guideline value of ELLAIAMMAN NAGAR 1st STREET is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of ELLAIAMMAN NAGAR 1st STREET has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the guideline value was Rs 600 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012. This was a 150% increase. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, marking a 33% drop. The value then rose sharply to Rs 1,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 1,600 per sq.ft, representing a 7% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 167%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, placing ELLAIAMMAN NAGAR 1st STREET below the median value.

• Ellaiamman Nagar 2nd Street: Rs 1,600 per sq.ft (2024)
• Ellaiamman Nagar 3rd Cross Street: Rs 1,600 per sq.ft (2024)
• Ellaiamman Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Ellaiamman Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Ellaiamman Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• Ellaiamman Nagar 6th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in ELLAIAMMAN NAGAR 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000. Together, the total fees would be Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers ELLAIAMMAN NAGAR 1st STREET?

The ELLAIAMMAN NAGAR 1st STREET is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Korattur. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must refer to the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value serves as a benchmark for the transaction price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of ELLAIAMMAN NAGAR 1st STREET?

The current guideline value of ELLAIAMMAN NAGAR 1st STREET is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 600 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 167%.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which Sub Registrar Office manages ELLAIAMMAN NAGAR 1st STREET?

The Villivakkam Sub Registrar Office manages ELLAIAMMAN NAGAR 1st STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors including land classification and location. It is updated periodically to reflect changes in the real estate market.