Guideline Value for Ellappa Street

Ellappa Street guideline value

The current guideline value of Ellappa Street in Naduvakkarai village is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Class I Type - III.

How the guideline value of Ellappa Street has changed

The guideline value for Ellappa Street has seen several revisions over the years. In 2007, the value was set at Rs 1,300 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking a 285% rise. However, this value decreased to Rs 3,350 per sq.ft in 2017, a drop of 33%. The value then rose sharply to Rs 5,000 per sq.ft in 2023, and further increased to the current rate of Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for Ellappa Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 323%.

Guideline values in Naduvakkarai

In Naduvakkarai village, there are 148 streets under the AnnaNagar SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, placing Ellappa Street's 2024 figure below this median.

• Dr. Radhakrishnan Nagar: Rs 5,400 per sq.ft (2024)
• George Enclave: Rs 11,000 per sq.ft (2024)
• Indira Nagar: Rs 3,300 per sq.ft (2024)
• Brevery Road: Rs 11,000 per sq.ft (2024)
• Block AD 4th Street -25’: Rs 11,500 per sq.ft (2024)
• Block AD 3rd Street -25’: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ellappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total of Rs 4,95,000. Please note that the 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 details.

Which Sub Registrar Office covers Ellappa Street?

The Sub Registrar Office that covers Ellappa Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO here.

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

The guideline value plays a crucial role in property transactions in Naduvakkarai. It is used to determine the stamp duty and registration fees applicable during the registration of property transactions. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ellappa Street?

The current guideline value of Ellappa Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,300 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an increase of 323% over the years.

What is the land classification for Ellappa Street?

Ellappa Street is classified as Residential Class I Type - III under the AnnaNagar SRO.

How does the guideline value affect property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It is essential for buyers and sellers to be aware of this value for compliance with legal requirements.

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

The Sub Registrar Office for Ellappa Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.