Guideline Value for Eluthukkaran Street

Eluthukkaran Street guideline value

The current guideline value of Eluthukkaran Street in Satthankadu village, under the Thiruvottiyur SRO, is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - III.

How the guideline value of Eluthukkaran Street has changed

The guideline value for Eluthukkaran Street has seen several revisions over the years. In 2002, the value was Rs 308 per sq.ft, which increased to Rs 356 per sq.ft in 2003, marking a 16% rise. The value then surged significantly to Rs 800 per sq.ft in 2007, reflecting a 125% increase. Following this, the value further escalated to Rs 3,100 per sq.ft in 2012, a remarkable 288% increase from the previous revision. However, there was a decrease to Rs 2,077 per sq.ft in 2017, which represented a 33% drop. The value rose again to Rs 3,100 per sq.ft in 2023, and finally, it reached the current figure of Rs 3,400 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1004%. The register has no figures for the years not mentioned in this summary.

Guideline values in Satthankadu

In Satthankadu village, there are 71 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,400 per sq.ft, which is equal to the guideline value of Eluthukkaran Street.

• Ennur High Road: Rs 3,400 per sq.ft (2024)
• East Railway Pattai: Rs 2,200 per sq.ft (2024)
• East Cabin Road: Rs 2,200 per sq.ft (2024)
• Gandhi Nagar Street/Main Road: Rs 3,400 per sq.ft (2024)
• Ganthi Nagar Link Road: Rs 3,400 per sq.ft (2024)
• GirijaNagar: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Eluthukkaran Street

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, charged at 7%, would amount to Rs 2,38,000, while the registration fee at 2% would be Rs 68,000. Together, the total cost for stamp duty and registration would be Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Eluthukkaran Street?

The Sub Registrar Office that covers Eluthukkaran Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Satthankadu. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring compliance with legal requirements.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. These costs are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Eluthukkaran Street?

The current guideline value of Eluthukkaran Street 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 308 per sq.ft in 2002 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 1004% over this period.

What is the land classification for Eluthukkaran Street?

Eluthukkaran Street is classified as Residential Special Type - III, indicating its suitability for residential development.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How are stamp duty and registration fees calculated for property transactions?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 34,00,000, the total stamp duty and registration fees would amount to Rs 3,06,000.