Guideline Value for ELLAIAMMAN NAGAR 4TH STREET

Ellaiamman Nagar 4th Street guideline value

The current guideline value of Ellaiamman Nagar 4th 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, classified as Residential Class III Type - III.

How the guideline value of Ellaiamman Nagar 4th Street has changed

Over the years, the guideline value for Ellaiamman Nagar 4th Street has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 150% rise. However, it then decreased to Rs 1,005 per sq.ft in 2017, showing a decline of 33%. The value rose again to Rs 1,500 per sq.ft in 2023, and most recently, it reached Rs 1,600 per sq.ft in 2024, reflecting a 7% increase from the previous year.

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

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 guideline value in this area is Rs 2,500 per sq.ft, placing the 2024 figure for Ellaiamman Nagar 4th Street below that median.

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

Stamp duty and registration fee for property in Ellaiamman Nagar 4th 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 costs 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ellaiamman Nagar 4th Street?

Ellaiamman Nagar 4th Street is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 critical factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ellaiamman Nagar 4th Street?

The current guideline value of Ellaiamman Nagar 4th Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 600 per sq.ft to Rs 1,600 per sq.ft in 2024, marking a total increase of 167% over the years.

What are the other streets in Korattur with the same guideline value?

Other streets in Korattur with the same guideline value of Rs 1,600 per sq.ft in 2024 include Ellaiamman Nagar 3rd Street, 5th Street, 3rd Cross Street, 6th Street, 2nd Street, and 1st Street.

How is the stamp duty calculated for properties in Ellaiamman Nagar 4th Street?

Stamp duty for properties in Ellaiamman Nagar 4th Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ellaiamman Nagar 4th Street?

The Villivakkam Sub Registrar Office covers Ellaiamman Nagar 4th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.