Guideline Value for Ellaya Lane

Ellaya Lane guideline value

The current guideline value of Ellaya Lane, located in Tondaiarpet village under the Royapuram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Ellaya Lane has changed

The guideline value for Ellaya Lane has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to Rs 1,200 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

There are no registered figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Ellaya Lane's 2024 figure below that median.

• Ellaya Mudali Street: Rs 3,800 per sq.ft (2024)
• Ethiraj Gramani Garden: Rs 1,300 per sq.ft (2024)
• East Muthaiah Street: Rs 1,300 per sq.ft (2024)
• East Kalmandapam Road: Rs 3,800 per sq.ft (2024)
• Durgadevi Nagar 6th Steet: Rs 1,300 per sq.ft (2024)
• Durgadevi Nagar 5th Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ellaya Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the 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 Ellaya Lane?

The Sub Registrar Office that covers Ellaya Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring that the transaction is in compliance with local regulations.

When purchasing property, it is essential to understand that the guideline value may differ from the actual sale price. The authorities will charge the stamp duty on the higher of the two values, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Ellaya Lane?

The current guideline value of Ellaya Lane is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Ellaya Lane?

Ellaya Lane is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Ellaya Lane?

For a 1,000 sq.ft plot, the total guideline value is Rs 13,00,000, leading to a stamp duty of Rs 91,000 and a registration fee of Rs 26,000, totaling Rs 1,17,000.

Which Sub Registrar Office covers the area of Ellaya Lane?

The Royapuram Sub Registrar Office covers Ellaya Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.