Guideline Value for Ellis 1st Lane

Ellis 1st Lane guideline value

The current guideline value of Ellis 1st Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Ellis 1st Lane has changed

The guideline value for Ellis 1st Lane has seen several revisions over the years. In 2002, the guideline value was Rs 750 per sq.ft, which increased to Rs 823 per sq.ft in 2003. Following this, the value rose to Rs 945 per sq.ft in 2007, and then saw a significant jump to Rs 6,000 per sq.ft in 2012. However, it decreased to Rs 4,020 per sq.ft in 2017. The value rose again to Rs 6,000 per sq.ft in 2023, and currently stands at Rs 6,600 per sq.ft as of the 2024 revision. The overall change from 2002 to 2024 is an increase of 780%.

Between the revisions, the changes were as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 is an increase of 10%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value is Rs 6,600 per sq.ft, which is equal to the current value of Ellis 1st Lane.

• Ellis 1st Street: Rs 6,600 per sq.ft (2024)
• Ellis 2nd Lane: Rs 6,600 per sq.ft (2024)
• Ellis 2nd Street: Rs 6,600 per sq.ft (2024)
• Ellis Road: Rs 8,800 per sq.ft (2024)
• Ellaiyamman Koil Street: Rs 6,600 per sq.ft (2024)
• Eswaradas Lala Street & lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Ellis 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000. Together, the total cost would be Rs 5,94,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ellis 1st Lane?

The Sub Registrar Office that covers Ellis 1st Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Triplicane. It is used to determine the stamp duty and registration fees applicable during the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Ellis 1st Lane?

The current guideline value of Ellis 1st Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 750 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 780%.

What are the stamp duty and registration fees for a property in Ellis 1st Lane?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles registrations for Ellis 1st Lane?

The Triplicane Sub Registrar Office handles registrations for Ellis 1st Lane, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It is essential for ensuring that the property is registered at a fair value, based on the higher of the guideline value or the sale price.