Guideline Value for Ellaiamman Koil Street

Ellaiamman Koil Street guideline value

The current guideline value of Ellaiamman Koil Street is Rs 1,210 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village and falls under the Padappai SRO, classified as Residential Class II Type - I.

How the guideline value of Ellaiamman Koil Street has changed

The guideline value for Ellaiamman Koil Street has seen several revisions over the years. The earliest recorded figure is from 2012, when it was set at Rs 1,100 per sq.ft. This was followed by a decrease to Rs 737 per sq.ft in 2017, marking a drop of 33%. However, from 2017 to 2023, the value increased significantly by 49% to Rs 1,100 per sq.ft. The most recent revision in 2024 raised the value to Rs 1,210 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures 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 Mudichur

Mudichur village has a total of 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. Ellaiamman Koil Street's current value of Rs 1,210 per sq.ft is below this median.

• Elumalai Nagar: Rs 2,200 per sq.ft (2024)
• Erikkarai Street: Rs 3,630 per sq.ft (2024)
• E.B.Colony: Rs 3,630 per sq.ft (2024)
• Eswaran Nagar: Rs 1,210 per sq.ft (2024)
• Durga Avenue: Rs 1,210 per sq.ft (2024)
• Duraisami Nagar: Rs 3,630 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 1,210 per sq.ft, the total guideline value would be Rs 12,10,000. The stamp duty at 7% would amount to Rs 84,700, while the registration fee at 2% would be Rs 24,200. Therefore, the total cost for stamp duty and registration fees would be Rs 1,08,900. It is important to note that 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 accurate calculations.

Which Sub Registrar Office covers Ellaiamman Koil Street?

The Sub Registrar Office that covers Ellaiamman Koil Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, to ensure compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Ellaiamman Koil Street?

The current guideline value of Ellaiamman Koil Street is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then back to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,210 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for these fees would be Rs 1,08,900.

Which Sub Registrar Office should I visit for transactions in Ellaiamman Koil Street?

The Padappai Sub Registrar Office is responsible for transactions in Ellaiamman Koil Street, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value of a property, influencing the stamp duty and registration fees. Buyers and sellers must consider this value to ensure compliance with legal requirements during property transactions.