Guideline Value for Ellaiamman Colony 2nd Cross Street

Ellaiamman Colony 2nd Cross Street guideline value

The current guideline value for Ellaiamman Colony 2nd Cross Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Ellaiamman Colony 2nd Cross Street has changed

In the 2023 revision, the guideline value was Rs 8,000 per sq.ft. This indicates a change of +9% to the current rate of Rs 8,700 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2017, 2012, 2007, 2003, and 2002.

Thus, the only revisions available for this street are from 2023 and 2024, showing a clear upward adjustment in the guideline value.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median of Rs 8,800 per sq.ft. The guideline value for Ellaiamman Colony 2nd Cross Street is below this median.

• Ellaiamman Colony 1st Cross Street: Rs 8,700 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)
• Ellaiamman Colony 6th Cross Street: Rs 8,700 per sq.ft (2024)
• Ellaiamman Colony Main Road: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ellaiamman Colony 2nd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 8,700 per sq.ft, the guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, totaling Rs 7,83,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ellaiamman Colony 2nd Cross Street?

The Sub Registrar Office that covers Ellaiamman Colony 2nd Cross Street 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 during the registration of property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling a property, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of their transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value for Ellaiamman Colony 2nd Cross Street?

The current guideline value for Ellaiamman Colony 2nd Cross Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision of Rs 8,000 per sq.ft to the 2024 revision of Rs 8,700 per sq.ft, the guideline value has increased by 9%.

What is the land classification for this street?

Ellaiamman Colony 2nd Cross Street is classified under Residential Class I Type - III.

Where can I find the registration office for this area?

The registration office for Ellaiamman Colony 2nd Cross Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 87,00,000 would incur a stamp duty of Rs 6,09,000 at 7%.