Guideline Value for Ellis 2nd Lane

Ellis 2nd Lane guideline value

The current guideline value of Ellis 2nd 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 2nd Lane has changed

The guideline value for Ellis 2nd Lane has seen several revisions over the years. In 2007, the value was Rs 945 per sq.ft, which increased significantly 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 set the value at Rs 6,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 6,600 per sq.ft.

Between the revisions, there were notable changes. From 2007 to 2012, the value increased by 535%. The value then decreased by 33% from 2012 to 2017. Following this, there was a 49% increase from 2017 to 2023, and finally, a 10% increase from 2023 to 2024. The overall change from 2007 to 2024 is an increase of 598%.

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 2024 figure for Ellis 2nd Lane.

• Ellis 1st Street: Rs 6,600 per sq.ft (2024)
• Ellis 2nd Street: Rs 6,600 per sq.ft (2024)
• Ellis 1st Lane: 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 2nd 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 amount to Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that the 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 2nd Lane?

The Sub Registrar Office that covers Ellis 2nd 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 an important factor in property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay the stamp duty based on the higher value between the guideline value and the actual sale price of the property. This ensures that the state government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Ellis 2nd Lane?

The current guideline value of Ellis 2nd 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 from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024. There were several revisions, with the most significant increase occurring from 2012 to 2017, and then again from 2017 to 2023.

What is the land classification for Ellis 2nd Lane?

Ellis 2nd Lane is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Ellis 2nd Lane?

The Sub Registrar Office for Ellis 2nd Lane is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (pycrafts Road), Royapettah, Chennai-600014.

How is the stamp duty calculated for properties in Triplicane?

Stamp duty for properties in Triplicane is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.