Guideline Value for Elappakkam Road Ward 8

Elappakkam Road Ward 8 guideline value

The current guideline value of Elappakkam Road Ward 8 is Rs 250 per sq.ft, effective from 1 July 2024. This property is located in Acharapakkam village, under the Acchirapakkam SRO, and is classified as Residential Class I Type - III.

How the guideline value of Elappakkam Road Ward 8 has changed

The guideline value for Elappakkam Road Ward 8 has undergone several revisions over the years. The earliest recorded value was Rs 100 per sq.ft in 2007, which remained unchanged until 2012 when it increased to Rs 150 per sq.ft. However, this increase was followed by a decrease to Rs 100 per sq.ft in 2017. The guideline value then rose significantly to Rs 250 per sq.ft in both 2023 and 2024, reflecting a 150% increase from 2017 to 2023, but no change from 2023 to 2024.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 150%.

Guideline values in Acharapakkam

In Acharapakkam, there are 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, placing Elappakkam Road Ward 8's 2024 figure below this median.

• East Mada Street (a) Easwaran Koil Street Ward 12: Rs 400 per sq.ft (2024)
• Gandhi Nagar 1st Street Ward 4: Rs 400 per sq.ft (2024)
• Gandhi Nagar 2nd Street Ward 4: Rs 400 per sq.ft (2024)
• Gandhi Nagar 3rd Street Ward 4: Rs 400 per sq.ft (2024)
• Gandhi Nagar 4th Street Ward 4: Rs 400 per sq.ft (2024)
• Gandhi Nagar 5th Street Ward 4: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Elappakkam Road Ward 8

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. 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 Elappakkam Road Ward 8?

The Sub Registrar Office covering Elappakkam Road Ward 8 is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Acharapakkam. 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 duties and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value, as it can influence the overall cost of the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid complications during registration.

Frequently asked questions

What is the current guideline value of Elappakkam Road Ward 8?

The current guideline value of Elappakkam Road Ward 8 is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2007 to Rs 250 per sq.ft in 2024, reflecting a 150% increase overall. There were no changes from 2023 to 2024, and the value remained at Rs 250 per sq.ft.

What is the median guideline value in Acharapakkam?

The median guideline value for streets in Acharapakkam is Rs 400 per sq.ft, which is higher than the current value of Elappakkam Road Ward 8.

What are the stamp duty and registration fees for property in Elappakkam Road Ward 8?

For a property valued at Rs 2,50,000, the stamp duty is Rs 17,500 and the registration fee is Rs 5,000, totaling Rs 22,500. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Elappakkam Road Ward 8?

The Sub Registrar Office for Elappakkam Road Ward 8 is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.