Guideline Value for Emaraldu Estate

Emaraldu Estate guideline value

The current guideline value of Emaraldu Estate is Rs 2,750 per sq.ft, effective from 1 July 2024. This property is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of Emaraldu Estate has changed

The guideline value for Emaraldu Estate has undergone several revisions over the years. The 2012 revision listed the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 2,500 per sq.ft in the 2023 revision, and most recently, it has risen to Rs 2,750 per sq.ft in the 2024 revision. The register has no figure for this street in 2002, 2003, or 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows an increase of 10% in the guideline value.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Emaraldu Estate's 2024 figure above this median.

• Emarald Estate Avenue: Rs 1,650 per sq.ft (2024)
• Erikarai street: Rs 2,750 per sq.ft (2024)
• Elizabeth street: Rs 1,100 per sq.ft (2024)
• Elizabeth Rani Street: Rs 1,650 per sq.ft (2024)
• Evalappan St: Rs 1,650 per sq.ft (2024)
• E.V.Perumalsamy St ( Sri Manakula vinayagar St): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Emaraldu Estate

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that 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 Emaraldu Estate?

The Sub Registrar Office that covers Emaraldu Estate is the Tambaram Joint 1 Sub Registrar Office, located at No.26,mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chitlapakkam, as it determines the amount of stamp duty and registration fees payable during the registration process. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and to accurately calculate the associated costs of property transactions.

When a property is registered, the guideline value serves as a benchmark for the transaction. This value is used to assess the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the actual sale price. Therefore, understanding the guideline value is essential for anyone involved in property transactions in the area.

Frequently asked questions

What is the current guideline value of Emaraldu Estate?

The current guideline value of Emaraldu Estate is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Emaraldu Estate?

Emaraldu Estate falls under the Residential Class I Type - II land classification.

What are the stamp duty and registration fees for a property in Emaraldu Estate?

For a property valued at Rs 2,750 per sq.ft, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000 for a 1,000 sq.ft plot, totaling Rs 2,47,500.

Where is the Sub Registrar Office for Emaraldu Estate located?

The Sub Registrar Office for Emaraldu Estate is the Tambaram Joint 1 Sub Registrar Office, located at No.26,mes Road, East Tambaram, Chennai-600059.