Guideline Value for ELLAIAMMAN NAGAR 3RD STREET

Ellaiamman Nagar 3rd Street guideline value

The current guideline value of Ellaiamman Nagar 3rd 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 3rd Street has changed

The guideline value for Ellaiamman Nagar 3rd Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 131 per sq.ft. This value increased significantly to Rs 600 per sq.ft in 2007, marking a rise of 358%. Following this, the value rose to Rs 1,500 per sq.ft in 2012, reflecting a 150% increase. However, it then dropped to Rs 1,005 per sq.ft in 2017, a decrease of 33%. The value saw a substantial increase to Rs 1,500 per sq.ft in 2023, which was a 49% rise. Finally, the current guideline value stands at Rs 1,600 per sq.ft as of the 2024 revision, representing a 7% increase from the previous year.

The register has no figure for this street in 2003. Overall, from 2002 to 2024, the guideline value has increased by 1,121%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, making the guideline value of Ellaiamman Nagar 3rd Street below that median.

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

For a property measuring 1,000 sq.ft 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, making the total cost for these fees 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ellaiamman Nagar 3rd Street?

The Sub Registrar Office that covers Ellaiamman Nagar 3rd Street is 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 plays a crucial role in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the value of the property for the purpose of calculating stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction.

When a property is sold, the registration office uses the guideline value to assess the applicable fees. If the sale price exceeds the guideline value, the stamp duty is calculated based on the sale price, ensuring that the fees reflect the true value of the transaction.

Frequently asked questions

What is the current guideline value of Ellaiamman Nagar 3rd Street?

The current guideline value of Ellaiamman Nagar 3rd 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 from Rs 131 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 1,121%.

What is the land classification for Ellaiamman Nagar 3rd Street?

Ellaiamman Nagar 3rd Street is classified as Residential Class III Type - III.

Where can I find the Sub Registrar Office for this area?

The Villivakkam Sub Registrar Office covers Ellaiamman Nagar 3rd Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft property at the current guideline value, the total fees would be Rs 1,44,000.