Guideline Value for ELLAMMAL NAGAR

Ellammal Nagar guideline value

The current guideline value of Ellammal Nagar, located in Ramapuram village under the Chennai South Joint II SRO, is Rs 3,100 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of Ellammal Nagar has changed

The guideline value of Ellammal Nagar has seen significant changes over the years. In 2002, the value was Rs 304 per sq.ft. It increased to Rs 376 per sq.ft in 2003, marking a 24% rise. By 2007, the value surged to Rs 1,100 per sq.ft, reflecting a remarkable increase of 193%. The value continued to rise, reaching Rs 2,800 per sq.ft in 2012, which was a 155% increase from the previous revision. However, from 2012 to 2017, there was a decline of 33%, bringing the value down to Rs 1,876 per sq.ft. The value then increased significantly to Rs 2,800 per sq.ft in 2023, a 49% rise. The latest revision in 2024 has set the guideline value at Rs 3,100 per sq.ft, an 11% increase from the previous year.

There are no figures available for the revisions in years not listed, ensuring that all changes are accounted for in the specified years.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median value is Rs 3,100 per sq.ft, and the guideline value for Ellammal Nagar aligns with this median.

• Elumalai Street: Rs 3,100 per sq.ft (2024)
• Ekambara Naicken Street: Rs 2,750 per sq.ft (2024)
• Eswaran Koil Street: Rs 2,750 per sq.ft (2024)
• Eswaran Nagar: Rs 3,100 per sq.ft (2024)
• Eswaran Nagar 1st Main Street: Rs 3,100 per sq.ft (2024)
• Eswaran Nagar 1st Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Ellammal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,100 per sq.ft, the guideline value amounts to Rs 31,00,000. The stamp duty at 7% would be Rs 2,17,000, while the registration fee at 2% would be Rs 62,000. Together, the total cost for these fees would be Rs 2,79,000. 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 detailed calculations.

Which Sub Registrar Office covers Ellammal Nagar?

The Sub Registrar Office that covers Ellammal Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ramapuram. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Ellammal Nagar?

The current guideline value of Ellammal Nagar is Rs 3,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 304 per sq.ft in 2002 to Rs 3,100 per sq.ft in 2024, showing an overall increase of 920%.

What is the land classification for Ellammal Nagar?

Ellammal Nagar falls under the Residential Class II Type - I land classification.

What are the registration fees for property in Ellammal Nagar?

The registration fees include a stamp duty of 7% and a registration fee of 2%, based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ellammal Nagar located?

The Sub Registrar Office for Ellammal Nagar is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.