Guideline Value for Elizabeth Rani Street

Elizabeth Rani Street guideline value

The current guideline value of Elizabeth Rani Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - III.

How the guideline value of Elizabeth Rani Street has changed

The guideline value for Elizabeth Rani Street has seen several revisions over the years. The earliest revision available is from 2012, where the value was Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. The 2023 revision increased the value to Rs 1,500 per sq.ft, and the latest revision in 2024 set it at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The revisions for the years 2002, 2003, and 2007 have no figures available for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Elizabeth Rani Street.

• Elizabeth street: Rs 1,100 per sq.ft (2024)
• Emarald Estate Avenue: Rs 1,650 per sq.ft (2024)
• Emaraldu Estate: Rs 2,750 per sq.ft (2024)
• Erikarai street: Rs 2,750 per sq.ft (2024)
• Evalappan St: Rs 1,650 per sq.ft (2024)
• E.V.Perumalsamy St ( Sri Manakula vinayagar St): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Elizabeth Rani Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Elizabeth Rani Street?

The Sub Registrar Office that covers Elizabeth Rani Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during property registration in Chitlapakkam. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is crucial for buyers and sellers to be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Elizabeth Rani Street?

The current guideline value of Elizabeth Rani Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Elizabeth Rani Street?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is Rs 16,50,000. The stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which Sub Registrar Office covers Elizabeth Rani Street?

The Tambaram Joint 1 Sub Registrar Office covers Elizabeth Rani Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Elizabeth Rani Street?

Elizabeth Rani Street is classified as Residential Class I Type - III, indicating its suitability for residential developments.