Guideline Value for Ellaiamman Colony 6th Cross Street

Ellaiamman Colony 6th Cross Street guideline value

The current guideline value of Ellaiamman Colony 6th 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. The land classification for this area is Residential Class I Type - III.

How the guideline value of Ellaiamman Colony 6th Cross Street has changed

The guideline value for Ellaiamman Colony 6th Cross Street has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 8,000 per sq.ft. The most recent revision in 2024 increased this value to Rs 8,700 per sq.ft, marking a change of +9% from the previous year.

This consistent increase reflects adjustments in the guideline values, with the 2024 figure being the highest recorded for this street. The 2023 value of Rs 8,000 per sq.ft was lower than the current figure, indicating a positive shift in the valuation.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a range of guideline values, with 332 streets under the Chennai Central Joint I SRO carrying a 2024 figure that ranges 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 the 2024 figure for Ellaiamman Colony 6th Cross Street below that median.

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

Stamp duty and registration fee for property in Ellaiamman Colony 6th Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, while the registration fee at 2% would be Rs 1,74,000. Together, the total cost for stamp duty and registration fee would be Rs 7,83,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ellaiamman Colony 6th Cross Street?

The Sub Registrar Office that covers Ellaiamman Colony 6th 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 plays a crucial role in the registration process of property transactions in Mylapore Part 2. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial obligations associated with property transactions. Ensuring accurate valuation helps in smooth registration and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Ellaiamman Colony 6th Cross Street?

The current guideline value of Ellaiamman Colony 6th Cross Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for this street has changed from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a +9% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Ellaiamman Colony 6th Cross Street?

The land classification for Ellaiamman Colony 6th Cross Street is Residential Class I Type - III. This classification is important for determining the usage and regulations applicable to the property.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Ellaiamman Colony 6th Cross Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office handles all registration processes for properties in this locality.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000 and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000.