Guideline Value for ELLAIAMMAN NAGAR 6TH STREET

Ellaiamman Nagar 6th Street guideline value

The current guideline value of Ellaiamman Nagar 6th Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village under the Villivakkam SRO, classified as Residential Class III Type - III.

How the guideline value of Ellaiamman Nagar 6th Street has changed

The guideline value for Ellaiamman Nagar 6th Street has undergone several revisions since 2002. The earliest recorded value in 2002 was Rs 131 per sq.ft, which saw a significant increase to Rs 600 per sq.ft in 2007, marking a change of +358%. In 2012, the value slightly rose to Rs 1,500 per sq.ft, reflecting an increase of +150%. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, a drop of -33%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, representing an increase of +59% from the 2017 figure.

It is important to note that the register does not contain figures for the years 2023 and 2003 for this street. Overall, the guideline value has increased by +1121% from the 2002 figure to the current 2024 figure.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a guideline value for 2024, 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 6th Street's current value below this median.

• Ellaiamman Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• Ellaiamman Nagar 4th 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 6th 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, bringing the total cost for these fees to Rs 1,44,000. It is important to note that the 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 Nagar 6th Street?

The Sub Registrar Office that covers Ellaiamman Nagar 6th 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 in property transactions in Korattur. It serves as a reference point for determining the minimum value at which a property can be registered. When buying or selling a property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid at the time of registration.

During the registration process, the buyer must ensure that the sale price is either equal to or exceeds the guideline value. If the sale price is lower than the guideline value, the higher amount will be considered for calculating the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ellaiamman Nagar 6th Street?

The current guideline value of Ellaiamman Nagar 6th 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 131 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of +1121% over the years.

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 covers Ellaiamman Nagar 6th Street?

The Villivakkam Sub Registrar Office covers Ellaiamman Nagar 6th Street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum value for property registration and is essential for calculating the stamp duty and registration fees. It ensures that the sale price is at least equal to the guideline value for fee calculations.