Guideline Value for Ellis 1st Street

Ellis 1st Street guideline value

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

How the guideline value of Ellis 1st Street has changed

Over the years, the guideline value of Ellis 1st Street has seen significant changes. The 2007 revision set the value at Rs 2,760 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012. However, this figure dropped to Rs 4,020 per sq.ft in 2017. The 2023 revision raised the value to Rs 6,000 per sq.ft, and the most recent 2024 revision has set it at Rs 6,600 per sq.ft, marking a 10% increase from the previous year.

The overall change from the 2007 revision to the 2024 revision is an increase of 139%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

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 value is Rs 6,600 per sq.ft, which is equal to the guideline value of Ellis 1st Street.

• Ellis 1st Lane: 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 Street

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 amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost to Rs 5,94,000. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Ellis 1st Street?

The Sub Registrar Office covering Ellis 1st Street 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 in property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers to accurately assess the costs involved in a property transaction.

Frequently asked questions

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

The current guideline value of Ellis 1st Street 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 2,760 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, with various revisions in between.

What is the stamp duty rate for properties in Ellis 1st Street?

The stamp duty rate for properties in Ellis 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Ellis 1st Street located?

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

What are the other streets in Triplicane with the same guideline value?

Other streets in Triplicane with the same guideline value of Rs 6,600 per sq.ft include Ellis 1st Lane, Ellis 2nd Lane, Ellis 2nd Street, Ellaiyamman Koil Street, and Eswaradas Lala Street & lane.