Guideline Value for ELLAPPAN NAGAR

Ellappan Nagar guideline value

The current guideline value of Ellappan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024. This locality is situated in Thirumazhisai village, under the Poonamallee SRO, and is classified as Commercial Special Type - I.

How the guideline value of Ellappan Nagar has changed

The guideline value for Ellappan Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in the 2023 revision, and finally, it rose to Rs 1,320 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft. The median value is Rs 1,320 per sq.ft, which is the same as the guideline value for Ellappan Nagar.

• Elumalai Mudaliar Street: Rs 1,320 per sq.ft (2024)
• Elumalai Mudhaliyar Nagar: Rs 1,650 per sq.ft (2024)
• FORTUNE SPRINGS Layout: Rs 2,475 per sq.ft (2024)
• Fortune Springs Srinivasa Street: Rs 1,320 per sq.ft (2024)
• C.R.Garden: Rs 2,475 per sq.ft (2024)
• choice Golden paradise: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ellappan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that 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 Ellappan Nagar?

The Sub Registrar Office that covers Ellappan Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Thirumazhisai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property transactions.

When buying or selling property, the guideline value is utilized to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial implications of their transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Ellappan Nagar?

The current guideline value of Ellappan Nagar is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Ellappan Nagar?

Ellappan Nagar is classified as Commercial Special Type - I, which indicates its use for commercial purposes.

Where can I find the Sub Registrar Office for Ellappan Nagar?

The Sub Registrar Office for Ellappan Nagar is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the stamp duty calculated for properties in Ellappan Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 92,400.