Guideline Value for Ellairi Street

Ellairi Street guideline value

The current guideline value of Ellairi Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO and is classified as Residential Class II Type - I.

How the guideline value of Ellairi Street has changed

Over the years, the guideline value for Ellairi Street has undergone several revisions. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, an increase from Rs 7,000 per sq.ft in the 2023 revision, marking a 10% rise. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 regarding this street.

Prior to the 2023 revision, the guideline values for Ellairi Street were not recorded in the register. The 2024 value of Rs 7,700 per sq.ft is reflective of the current market conditions and is below the median value of Rs 8,800 per sq.ft for the 333 streets in Mylapore Part 1 under the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets that carry a guideline value for 2024, ranging 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 Ellairi Street's value below this median.

• Ellaiamman Colony Main Road: Rs 8,700 per sq.ft (2024)
• Ellaiamman Colony 6th Cross Street: Rs 8,700 per sq.ft (2024)
• Ellaiamman Colony 5th Cross Street: 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)

Stamp duty and registration fee for property in Ellairi Street

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that the 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 Ellairi Street?

The Sub Registrar Office that covers Ellairi 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 1

When buying or selling property in Mylapore Part 1, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is a benchmark set by the government and is used to assess the value of the property for taxation purposes.

During the registration process, the guideline value is compared to the sale price of the property. The higher amount is then used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is fairly assessed according to government regulations.

Frequently asked questions

What is the current guideline value of Ellairi Street?

The current guideline value of Ellairi Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

From the 2023 revision to the 2024 revision, the guideline value increased from Rs 7,000 per sq.ft to Rs 7,700 per sq.ft, which is a 10% increase.

What is the land classification for Ellairi Street?

Ellairi Street is classified as Residential Class II Type - I under the Chennai Central Joint I SRO.

What are the registration fees for property in Ellairi Street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles registrations for Ellairi Street?

The Chennai Central Joint I Sub Registrar Office handles registrations for Ellairi Street, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.