Guideline Value for Elllappa Naicken 2nd lane

Elllappa Naicken 2nd lane guideline value

The current guideline value for Elllappa Naicken 2nd lane is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Elllappa Naicken 2nd lane has changed

The guideline value for Elllappa Naicken 2nd lane has seen several revisions over the years. The 2007 revision recorded a value of Rs 1,200 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in the 2012 revision. However, this value decreased to Rs 4,355 per sq.ft in the 2017 revision before rising again to Rs 6,500 per sq.ft in the 2023 revision. The latest revision in 2024 has brought the value to Rs 7,100 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 492%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which is equal to the current value for Elllappa Naicken 2nd lane.

• Ellispuram: Rs 3,400 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 Elllappa Naicken 2nd lane

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000. Together, these fees would total Rs 6,39,000. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Elllappa Naicken 2nd lane?

The Sub Registrar Office that covers Elllappa Naicken 2nd lane is 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 a critical factor in the registration process when buying or selling property in Egmore. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value ensures that the government receives the appropriate revenue from property transactions. Buyers and sellers must be aware of these values to accurately calculate their costs during the registration process.

Frequently asked questions

What is the current guideline value of Elllappa Naicken 2nd lane?

The current guideline value of Elllappa Naicken 2nd lane is Rs 7,100 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 1,200 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 492% over the years.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000.

Which Sub Registrar Office is responsible for this area?

The Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003, is responsible for the registration of properties in Elllappa Naicken 2nd lane.

What is the land classification for Elllappa Naicken 2nd lane?

Elllappa Naicken 2nd lane is classified as Residential Class II Type - I, which indicates its designation for residential use.