Guideline Value for ELLAIAMMAN NAGAR 5TH STREET

Ellaiamman Nagar 5th Street guideline value

The current guideline value of Ellaiamman Nagar 5th Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - III.

How the guideline value of Ellaiamman Nagar 5th Street has changed

The guideline value for Ellaiamman Nagar 5th Street has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft. This figure increased significantly to Rs 1,500 per sq.ft in 2012, marking a rise of 150%. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a drop of 33%. The guideline value then rose 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, which is a 7% increase from the previous year.

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

Guideline values in Korattur

In Korattur, there are a total of 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 for these streets is Rs 2,500 per sq.ft, which indicates that the 2024 guideline value for Ellaiamman Nagar 5th Street is below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ellaiamman Nagar 5th Street?

The Sub Registrar Office that covers Ellaiamman Nagar 5th Street is 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 crucial factor during the registration of property transactions in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the guideline value or the sale price, whichever is higher. This ensures transparency and uniformity in property transactions within the region.

Frequently asked questions

What is the current guideline value of Ellaiamman Nagar 5th Street?

The current guideline value of Ellaiamman Nagar 5th 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 600 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 167% over the years.

What is the land classification of Ellaiamman Nagar 5th Street?

Ellaiamman Nagar 5th Street is classified as Residential Class III Type - III.

Where can I find the registration office for Ellaiamman Nagar 5th Street?

The registration office for Ellaiamman Nagar 5th Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Korattur?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. It is charged at a rate of 7%, along with a registration fee of 2% on the guideline value.