Guideline Value for ELIM NAGAR (MANTHOPE 1ST CROSS STREET)

Elim Nagar (Manthope 1st Cross Street) guideline value

The current guideline value of Elim Nagar (Manthope 1st Cross Street) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village and falls under the Neelankarai SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Elim Nagar (Manthope 1st Cross Street) has changed

The guideline value for Elim Nagar (Manthope 1st Cross Street) has seen several revisions over the years. Starting from the 2002 revision, the guideline value was Rs 233 per sq.ft. This increased to Rs 420 per sq.ft in 2003, marking an increase of 80%. The value continued to rise significantly, reaching Rs 1,452 per sq.ft in 2007, which was a 246% increase from the previous figure. The 2012 revision saw a slight decrease to Rs 3,000 per sq.ft, a drop of 33% from 2017's figure of Rs 2,010 per sq.ft.

In the subsequent years, the guideline value increased again, reaching Rs 3,000 per sq.ft in the 2012 revision. The 2017 revision brought it up to Rs 2,010 per sq.ft, followed by an increase to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO that carry 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 3,300 per sq.ft, which is equal to the current value for Elim Nagar (Manthope 1st Cross Street). Below are some other streets in Perungudi:

• Elim Nagar 3rd Cross Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar (Manthope 1st Street): Rs 3,300 per sq.ft (2024)
• Elim Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Elim Nagar (Manthope 2nd Cross Street): Rs 3,300 per sq.ft (2024)
• Elim Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar (Manthope 2nd Street): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Elim Nagar (Manthope 1st Cross Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. 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 Elim Nagar (Manthope 1st Cross Street)?

The Sub Registrar Office covering Elim Nagar (Manthope 1st Cross Street) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value.

When buying or selling a property, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Elim Nagar (Manthope 1st Cross Street)?

The current guideline value of Elim Nagar (Manthope 1st Cross Street) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 233 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1316% over this period.

What are the other streets in Perungudi with the same guideline value?

Other streets in Perungudi with the same guideline value of Rs 3,300 per sq.ft include Elim Nagar 3rd Cross Street, Elim Nagar (Manthope 1st Street), Elim Nagar 2nd Main Road, Elim Nagar (Manthope 2nd Cross Street), Elim Nagar 2nd Cross Street, and Elim Nagar (Manthope 2nd Street).

What is the stamp duty rate for property in Elim Nagar?

The stamp duty rate for property transactions in Elim Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.