Guideline Value for Ellappa Avenue

Ellappa Avenue guideline value

The current guideline value of Ellappa Avenue, located in Gooduvancheri village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ellappa Avenue has changed

The guideline value for Ellappa Avenue has undergone several revisions over the years. The most recent revisions show that the guideline value was Rs 1,200 per sq.ft in both 2023 and 2024, indicating no change between these two years. Prior to this, in 2017, the guideline value was Rs 804 per sq.ft, reflecting a 49% increase to the current value since then.

It is important to note that for the years 2002, 2003, 2007, and 2012, the register has no figure for this street. This means that the only available figures for Ellappa Avenue are from 2017, 2023, and 2024, showcasing a significant overall increase of 49% from 2017 to 2024.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, placing Ellappa Avenue's 2024 figure below this median.

• Ekambaram Nagar: Rs 2,001 per sq.ft (2024)
• E.V.K. Sampath Street: Rs 1,500 per sq.ft (2024)
• Friends Avenue: Rs 1,200 per sq.ft (2024)
• Ganapathi Nagar (S.No 38/5): Rs 1,500 per sq.ft (2024)
• Ganapathypuram: Rs 2,001 per sq.ft (2024)
• Gandhi Nagar 3rd Street: Rs 2,001 per sq.ft (2024)

Stamp duty and registration fee for property in Ellappa Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total fees to Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ellappa Avenue?

The Sub Registrar Office that covers Ellappa Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Gooduvancheri. It is used to determine the stamp duty and registration fees that need to be paid during the registration of property. This value ensures that the government receives the appropriate revenue based on the property's assessed worth.

When buying or selling property, it is essential to refer to the guideline value as it can influence the overall cost of the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, but the duty is charged on whichever is higher.

Frequently asked questions

What is the current guideline value of Ellappa Avenue?

The current guideline value of Ellappa Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2023 to 2024. From 2017 to 2023, it increased from Rs 804 per sq.ft to Rs 1,200 per sq.ft, marking a 49% rise overall from 2017 to 2024.

What is the land classification for Ellappa Avenue?

Ellappa Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

How does the guideline value affect property transactions?

The guideline value is crucial for determining the stamp duty and registration fees during property transactions. It is charged on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue.

Where can I find the Gooduvancheri Sub Registrar Office?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find more information by visiting the relevant links.