Guideline Value for Ellaiamman Koil 3rd Cross Street

Ellaiamman Koil 3rd Cross Street guideline value

The current guideline value of Ellaiamman Koil 3rd 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 3rd Cross Street has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This decreased to Rs 1,340 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly by 49% to Rs 2,000 per sq.ft in the 2023 revision. The most recent 2024 revision set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figure for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the 2024 figure for Ellaiamman Koil 3rd Cross Street.

• Ellaiamman Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil 1st 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 3rd 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 amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Ellaiamman Koil 3rd Cross Street?

The Sub Registrar Office that covers Ellaiamman Koil 3rd 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 more information.

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

The guideline value is a crucial factor when registering property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can impact the overall cost of purchasing property.

Frequently asked questions

What is the current guideline value of Ellaiamman Koil 3rd Cross Street?

The current guideline value of Ellaiamman Koil 3rd 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 seen several changes: it was Rs 2,000 per sq.ft in 2012, decreased to Rs 1,340 per sq.ft in 2017, increased to Rs 2,000 per sq.ft in 2023, and is now Rs 2,200 per sq.ft in 2024.

What is the land classification for Ellaiamman Koil 3rd Cross Street?

Ellaiamman Koil 3rd Cross Street is classified as Residential Class II Type - III.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value for a property is Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.