Guideline Value for Ellaiamman Koil Street

Ellaiamman Koil Street guideline value

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

How the guideline value of Ellaiamman Koil Street has changed

The guideline value for Ellaiamman Koil Street has seen several revisions over the years. In the 2002 revision, the value was Rs 339 per sq.ft, which increased to Rs 369 per sq.ft in 2003, marking a change of +9%. Following that, the value rose significantly to Rs 1,000 per sq.ft in 2007, reflecting a +171% increase. The value then doubled to Rs 2,000 per sq.ft in 2012, which was a +100% change. However, it decreased to Rs 1,340 per sq.ft in 2017, showing a decline of -33%. The guideline value then increased to Rs 2,000 per sq.ft in 2023, with a change of +49%, and finally reached Rs 2,200 per sq.ft in the 2024 revision, which is a +10% increase.

There are no figures available for the revisions in years other than those listed. The overall change from 2002 to 2024 is +549%.

Guideline values in Neelankarai

In Neelankarai village, 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 value is Rs 2,200 per sq.ft, which is equal to the current guideline value of Ellaiamman Koil Street.

• Ellaiamman Koil 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Ellaiamman Koil 1st Cross 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 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 cost for these fees to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ellaiamman Koil Street?

The Sub Registrar Office that covers Ellaiamman Koil 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 plays a crucial role in the registration process when buying or selling property in Neelankarai. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration process is transparent and fair, reflecting the official valuation of the property.

Frequently asked questions

What is the current guideline value of Ellaiamman Koil Street?

The current guideline value of Ellaiamman Koil 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 339 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, showing an overall increase of +549%.

What is the registration fee for property in Ellaiamman Koil Street?

The registration fee is calculated at 2% of the guideline value. For a plot valued at Rs 22,00,000, the registration fee would be Rs 44,000.

Where is the Sub Registrar Office located?

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 charged at 7% of the higher value between the guideline value and the sale price. For example, if the guideline value is Rs 22,00,000, the stamp duty would be Rs 1,54,000.