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 2 village and falls 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 seen several revisions. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 12,000 per sq.ft, which was an increase from the previous figure. The latest 2024 revision raised this value to Rs 13,200 per sq.ft, marking a 10% increase from 2023.

Thus, the guideline value has increased from Rs 12,000 per sq.ft in 2023 to Rs 13,200 per sq.ft in 2024. This places Eldams Road above the median guideline value for Mylapore Part 2, which is Rs 8,800 per sq.ft for 2024.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a total of 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. Eldams Road's 2024 guideline value of Rs 13,200 per sq.ft is above the median value for the area.

• 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 rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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 2

The guideline value is a crucial factor in property transactions, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When purchasing property, the guideline value helps to establish a baseline for negotiation and ensures that all parties are aware of the official valuation set by the government. It is essential to consult the latest guideline values to avoid any discrepancies during the transaction.

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, marking a 10% increase. There are no figures available for the years 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 use for commercial purposes.

Where can I find information about stamp duty and registration fees?

Information about stamp duty and registration fees can be found using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers the property on Eldams Road?

The property on Eldams Road is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.