Guideline Value for Ellappa Naicken 1st lane

Ellappa Naicken 1st lane guideline value

The current guideline value of Ellappa Naicken 1st lane is Rs 7,100 per sq.ft. This street is located in Egmore village, under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Ellappa Naicken 1st lane has changed

The guideline value for Ellappa Naicken 1st lane has seen several revisions over the years. In 2002, the value was Rs 601 per sq.ft, which increased to Rs 663 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,200 per sq.ft in 2007. The next revision in 2012 saw the value remain at Rs 6,500 per sq.ft, but it dropped to Rs 4,355 per sq.ft in 2017. The value then increased to Rs 6,500 per sq.ft in 2023 and finally reached Rs 7,100 per sq.ft in 2024.

From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 was a rise of 9%. Notably, the value saw a substantial increase of 442% from 2007 to 2012. Overall, from 2002 to 2024, the guideline value has increased by 1081%. There are no figures available for revisions other than those mentioned.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which is also the current value for Ellappa Naicken 1st lane.

• Ellappa Naicken street: Rs 7,100 per sq.ft (2024)
• Ellispuram: Rs 3,400 per sq.ft (2024)
• Ellappa Naicken 2nd lane: Rs 7,100 per sq.ft (2024)
• Egmore High Road: Rs 18,100 per sq.ft (2024)
• Egappan Lane: Rs 7,100 per sq.ft (2024)
• Ethiraj Lane: Rs 13,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ellappa Naicken 1st lane

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. 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 Ellappa Naicken 1st lane?

The Sub Registrar Office that covers Ellappa Naicken 1st lane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Egmore. It serves as a reference point for determining the stamp duty and registration fees applicable to the property. Buyers and sellers must consider this value to ensure compliance with local regulations during the transaction process.

When purchasing property, the guideline value helps establish the minimum value on which stamp duty is calculated. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ellappa Naicken 1st lane?

The current guideline value of Ellappa Naicken 1st lane is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, with the most recent revision in 2024 showing an increase from Rs 6,500 per sq.ft in 2023 to Rs 7,100 per sq.ft. Overall, from 2002 to 2024, the value has increased by 1081%.

What is the land classification for Ellappa Naicken 1st lane?

Ellappa Naicken 1st lane falls under the land classification of Residential Class II Type - I.

What is the role of the Sub Registrar Office?

The Sub Registrar Office is responsible for the registration of property transactions. It ensures that all legal requirements are met and that the transactions are recorded accurately in the official register.

How is stamp duty calculated for properties in Egmore?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. It is essential for buyers to be aware of the guideline value to determine the applicable stamp duty during the registration process.