Guideline Value for Elizabeth street

Elizabeth street guideline value

The current guideline value of Elizabeth street in Chitlapakkam village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class II Type - II.

How the guideline value of Elizabeth street has changed

The guideline value for Elizabeth street has seen several revisions over the years. Starting with the 2012 revision, the value was Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. However, in the 2023 revision, the value increased to Rs 1,000 per sq.ft, and the most recent 2024 revision has set it at Rs 1,100 per sq.ft. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From the 2017 revision to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Elizabeth street is below this median.

• Elizabeth Rani Street: Rs 1,650 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 street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total fees Rs 99,000. 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 information on fees applicable to your property transaction.

Which Sub Registrar Office covers Elizabeth street?

Elizabeth street is covered by 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 details.

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

The guideline value is a crucial factor when registering property transactions in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to assess the minimum value for which the property can be registered. This ensures transparency and helps in the proper collection of taxes associated with property transactions.

Frequently asked questions

What is the current guideline value of Elizabeth street?

The current guideline value of Elizabeth street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Elizabeth street?

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

What is the land classification of Elizabeth street?

Elizabeth street is classified as Residential Class II Type - II under the current guideline value regulations.