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 2 village under the Chennai Central Joint I SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Ellairi Street has changed

The guideline value for Ellairi Street has undergone several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 7,000 per sq.ft, which was then increased by 10% to Rs 7,700 per sq.ft in the 2024 revision.

This change from the 2023 to 2024 revision reflects a notable increase in the guideline value. The 2024 figure of Rs 7,700 per sq.ft is the most current and applicable rate for property transactions on this street.

Guideline values in Mylapore Part 2

Mylapore Part 2 has a total of 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, and Ellairi Street's 2024 figure is 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 guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty is calculated at 7%, which comes to Rs 5,39,000, and the registration fee is 2%, totaling Rs 1,54,000. Together, the total cost for stamp duty and registration fee amounts to Rs 6,93,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, 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 further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a critical factor in property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value of a property, ensuring that all transactions are conducted fairly and transparently.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers must be aware of this value to ensure compliance with local 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 has the guideline value changed over the years?

The guideline value for Ellairi Street has changed from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, reflecting a 10% increase. The register has no figure for this street in the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification of Ellairi Street?

Ellairi Street is classified under Residential Class II Type - I, indicating its designation for residential purposes within the Chennai Central Joint I SRO.

What are the stamp duty and registration fees for properties in Ellairi Street?

For a property valued at Rs 77,00,000, the stamp duty is Rs 5,39,000 and the registration fee is Rs 1,54,000, totaling Rs 6,93,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ellairi Street?

The Sub Registrar Office for Ellairi Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. This office is responsible for property registrations in the area.