Guideline Value for Rani Elizabeth Street

Rani Elizabeth Street guideline value

The current guideline value of Rani Elizabeth Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Rani Elizabeth Street has changed

The guideline value for Rani Elizabeth Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then changed to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. Following this, the 2023 revision raised the value to Rs 1,500 per sq.ft, and the most recent 2024 revision increased it further to Rs 1,650 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Rani Elizabeth Street. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase in the guideline value, bringing it to the current rate of Rs 1,650 per sq.ft.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for the area is Rs 1,650 per sq.ft, which matches the current value of Rani Elizabeth Street.

• Rani Anna St: Rs 1,650 per sq.ft (2024)
• Raveendranath Tagoore Street: Rs 1,650 per sq.ft (2024)
• R.B.Nagar: Rs 1,650 per sq.ft (2024)
• R.B Nagar Extension: Rs 1,650 per sq.ft (2024)
• Ramanujar Street: Rs 2,750 per sq.ft (2024)
• Ramanar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rani Elizabeth Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rani Elizabeth Street?

The Sub Registrar Office that covers Rani Elizabeth Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Chitlapakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in establishing a fair price for the transaction and is essential for the legal documentation process during registration.

Frequently asked questions

What is the current guideline value of Rani Elizabeth Street?

The current guideline value of Rani Elizabeth Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10% over this period.

What is the land classification for Rani Elizabeth Street?

Rani Elizabeth Street is classified as Residential Class I Type - III, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties on this street?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where can I find the Sub Registrar Office for Rani Elizabeth Street?

The Tambaram Joint 1 Sub Registrar Office covers Rani Elizabeth Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.