Guideline Value for Ellaiamman Koil 1st Cross Street

Ellaiamman Koil 1st Cross Street guideline value

The current guideline value of Ellaiamman Koil 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Neelankarai village, under the Neelankarai SRO, and is classified as Residential Class II Type - III.

How the guideline value of Ellaiamman Koil 1st Cross Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure remained until the 2017 revision when it decreased to Rs 1,340 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,000 per sq.ft in the 2023 revision, followed by another increase to Rs 2,200 per sq.ft in the 2024 revision, reflecting a 10% rise.

From the 2017 to 2023 revision, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a guideline value for 2024, ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which matches the current figure for Ellaiamman Koil 1st Cross Street.

• Ellaiamman Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil Street: Rs 2,200 per sq.ft (2024)
• Electronic & Electrical Industrial Develop Plot Estate: Rs 6,400 per sq.ft (2024)
• Estate Road 4th Cross Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ellaiamman Koil 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Ellaiamman Koil 1st Cross Street?

The Sub Registrar Office that covers Ellaiamman Koil 1st Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Neelankarai. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value helps to determine the legal and financial obligations involved in the transaction. It is essential for buyers and sellers to be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Ellaiamman Koil 1st Cross Street?

The current guideline value of Ellaiamman Koil 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Ellaiamman Koil 1st Cross Street?

Ellaiamman Koil 1st Cross Street is classified as Residential Class II Type - III.

What is the stamp duty for property in Ellaiamman Koil 1st Cross Street?

The stamp duty for property in Ellaiamman Koil 1st Cross Street is calculated at 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Ellaiamman Koil 1st Cross Street located?

The Sub Registrar Office for Ellaiamman Koil 1st Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.