Guideline Value for Ellis 2nd Street

Ellis 2nd Street guideline value

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

The guideline value for Ellis 2nd Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 6,600 per sq.ft, an increase of 10% from the 2023 figure of Rs 6,000 per sq.ft. Prior to that, in 2017, the guideline value was Rs 4,020 per sq.ft, marking a significant increase of 49% when compared to the 2023 revision. The 2012 revision also recorded a value of Rs 6,000 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO, with guideline values 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 guideline value of Ellis 2nd Street.

• Ellis 2nd Lane: Rs 6,600 per sq.ft (2024)
• Ellis 1st Street: Rs 6,600 per sq.ft (2024)
• Ellis Road: Rs 8,800 per sq.ft (2024)
• Ellis 1st Lane: Rs 6,600 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to 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, bringing the total cost to Rs 5,94,000. Please 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 Ellis 2nd Street?

The Sub Registrar Office that covers Ellis 2nd 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 the basis for calculating stamp duty and registration fees, which are mandatory when registering property. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction process.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that all parties are aware of the financial obligations involved in the transaction, including the associated fees based on the guideline value.

Frequently asked questions

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

The current guideline value of Ellis 2nd 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 from Rs 6,000 in 2023 to Rs 6,600 in 2024, representing a 10% increase. It was Rs 4,020 in 2017, which is a 49% increase from the 2023 value.

What is the land classification for Ellis 2nd Street?

Ellis 2nd Street is classified as Residential Class I Type - I, indicating its designation for residential purposes within the Triplicane area.

Where can I find the registration office for Ellis 2nd Street?

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

How is stamp duty calculated for properties in Triplicane?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 66,00,000 would incur a stamp duty of Rs 4,62,000 at a rate of 7%.