Guideline Value for ELLEN SHARMA SCHOOL STREET

Ellen Sharma School Street guideline value

The current guideline value of Ellen Sharma School Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in the village of Sholinganallur - 1 and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Ellen Sharma School Street has changed

The guideline value for Ellen Sharma School Street has seen significant changes over the years. The 2017 revision set the value at Rs 2,010 per sq.ft, which was then increased to Rs 3,000 per sq.ft in the 2023 revision. The most recent 2024 revision has further raised the value to Rs 3,300 per sq.ft, marking a 10% increase from 2023. Overall, from 2017 to 2024, the guideline value has increased by 64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, indicating a substantial rise in value over that period.

Guideline values in Sholinganallur - 1

In the village of Sholinganallur - 1, there are 754 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ellen Sharma School Street's 2024 figure above that median.

• Ellammal Thottam: Rs 1,700 per sq.ft (2024)
• Emarld Garden: Rs 2,200 per sq.ft (2024)
• Em.Perumal Street: Rs 1,700 per sq.ft (2024)
• Elcot Avenue Main Street Extension: Rs 5,000 per sq.ft (2024)
• Elcot Avenue Main Road: Rs 5,000 per sq.ft (2024)
• Elcot Avenue 1st Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Ellen Sharma School Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Ellen Sharma School Street?

The Ellen Sharma School Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value plays a crucial role in the registration process when buying or selling property in Sholinganallur - 1. It serves as a benchmark to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer is required to pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ellen Sharma School Street?

The current guideline value of Ellen Sharma School Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification for Ellen Sharma School Street?

Ellen Sharma School Street is classified as Residential Class II Type - I under the Neelankarai SRO.

Where can I find the registration office for Ellen Sharma School Street?

The registration office for Ellen Sharma School Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is stamp duty calculated for properties in Sholinganallur - 1?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property with a guideline value of Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.