Guideline Value for Ellispuram

Ellispuram guideline value

The current guideline value of Ellispuram is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is located in Egmore village, under the Periamet SRO, and is classified as Residential Class III Type - II.

How the guideline value of Ellispuram has changed

The guideline value of Ellispuram has seen significant changes over the years. In 2002, the value was Rs 469 per sq.ft, which increased to Rs 517 per sq.ft in 2003. The value then rose to Rs 1,000 per sq.ft in 2007, marking a substantial increase of 93%. Following this, the value surged to Rs 3,100 per sq.ft in 2012, reflecting a 210% increase. However, it then decreased to Rs 2,077 per sq.ft in 2017, a decline of 33%. The value rebounded to Rs 3,100 per sq.ft in 2023, before reaching the current figure of Rs 3,400 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 625%. The register has no figures for the years not listed above for this street.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value of Ellispuram is below this median.

• Elllappa Naicken 2nd lane: Rs 7,100 per sq.ft (2024)
• Ellappa Naicken street: Rs 7,100 per sq.ft (2024)
• Ellappa Naicken 1st lane: Rs 7,100 per sq.ft (2024)
• Egmore High Road: Rs 18,100 per sq.ft (2024)
• Egappan Lane: Rs 7,100 per sq.ft (2024)
• Ethiraj Lane: Rs 13,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ellispuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, making the total cost Rs 3,06,000. 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 Ellispuram?

Ellispuram falls under the Periamet Sub Registrar Office located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Egmore. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the baseline value of the property. It is crucial for buyers to be aware of the guideline value to avoid overpaying for a property and for sellers to set realistic expectations based on the official valuation.

Frequently asked questions

What is the current guideline value of Ellispuram?

The current guideline value of Ellispuram is Rs 3,400 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 469 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 625% over this period.

What is the land classification of Ellispuram?

Ellispuram is classified as Residential Class III Type - II under the current guidelines.

What is the registration office for Ellispuram?

The registration office covering Ellispuram is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for property in Ellispuram?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,400 per sq.ft, the total stamp duty would be Rs 2,38,000.