Guideline Value for Eldams Road

Eldams Road guideline value

The current guideline value of Eldams Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO. The land classification for this area is Commercial Special Type - III.

How the guideline value of Eldams Road has changed

The guideline value for Eldams Road has undergone several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 12,000 per sq.ft, which was an increase from the previous years. In the 2024 revision, the guideline value rose to Rs 13,200 per sq.ft, marking a 10% increase from the 2023 figure.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with 2024 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Eldams Road's 2024 figure above this median.

• Ellaiamman Colony 1st Cross Street: Rs 8,700 per sq.ft (2024)
• Ellaiamman Colony 2nd Cross Street: Rs 8,700 per sq.ft (2024)
• Elango Salai: Rs 11,000 per sq.ft (2024)
• Ellaiamman Colony 3rd Cross Street: Rs 8,700 per sq.ft (2024)
• Ellaiamman Colony 4th Cross Street: Rs 8,700 per sq.ft (2024)
• Ellaiamman Colony 5th Cross Street: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Eldams Road

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value would be Rs 1,32,00,000. The stamp duty at 7% would amount to Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, leading to a total of Rs 11,88,000. 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 Eldams Road?

The Sub Registrar Office that covers Eldams Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor when buying or selling property in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is registered, the guideline value is used to calculate the duties owed, ensuring that the transaction is documented according to the prevailing rates set by the registration department.

Frequently asked questions

What is the current guideline value of Eldams Road?

The current guideline value of Eldams Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Eldams Road?

The land classification for Eldams Road is Commercial Special Type - III, indicating its designated use for commercial purposes.

What are the other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 include Ellaiamman Colony 1st Cross Street, Ellaiamman Colony 2nd Cross Street, Elango Salai, and several others, with guideline values ranging from Rs 8,700 to Rs 11,000 per sq.ft in 2024.

How is stamp duty calculated for properties on Eldams Road?

Stamp duty for properties on Eldams Road is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total stamp duty and registration fee of Rs 11,88,000.