Guideline Value for Ellatharisu Salai

Ellatharisu Salai guideline value

The current guideline value of Ellatharisu Salai is Rs 1,000 per sq.ft, effective from 1 July 2024. This street is located in Manjampakkam village and falls under the Redhills SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Ellatharisu Salai has changed

The guideline value for Ellatharisu Salai has undergone several revisions over the years. In the 2007 revision, the value was Rs 500 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, in the 2017 revision, the value rose to Rs 402 per sq.ft, followed by a significant increase to Rs 600 per sq.ft in 2023. The latest revision in 2024 saw the guideline value rise to Rs 1,000 per sq.ft, marking a 67% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 100%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Manjampakkam

In Manjampakkam, there are 11 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 1,650 per sq.ft, with the median value being Rs 1,650 per sq.ft. The guideline value for Ellatharisu Salai is below this median.

• Ellaiyamman Koil Street: Rs 1,000 per sq.ft (2024)
• Ennore Salai: Rs 1,650 per sq.ft (2024)
• C.M. Nagar: Rs 1,650 per sq.ft (2024)
• Kamarajar Salai: Rs 1,650 per sq.ft (2024)
• Kamarajar Salai 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Kamarajar Salai 2nd Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Ellatharisu Salai

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is important to 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 Ellatharisu Salai?

The Sub Registrar Office that covers Ellatharisu Salai is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

When buying or selling property in Manjampakkam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the government.

The guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation of properties. This is important for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Ellatharisu Salai?

The current guideline value of Ellatharisu Salai is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2024, reflecting a 100% increase over the years.

What is the registration office for Ellatharisu Salai?

The registration office for Ellatharisu Salai is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It is updated periodically to reflect changes in the real estate market.