Guideline Value for ELIM NAGAR (MANTHOPE 1ST STREET)

Elim Nagar (Manthope 1st Street) guideline value

The current guideline value of Elim Nagar (Manthope 1st Street) is Rs 3,300 per sq.ft. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class II Type - II.

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

The guideline value for Elim Nagar (Manthope 1st Street) has undergone several revisions over the years. Starting from the 2002 revision, the value was Rs 233 per sq.ft. It increased significantly to Rs 420 per sq.ft in 2003, marking an increase of 80%. The value continued to rise, reaching Rs 1,452 per sq.ft in 2007, which was a substantial increase of 246%. In 2012, the value was Rs 3,000 per sq.ft, reflecting a decrease of 33% from the previous revision. The 2017 revision saw the value rise again to Rs 2,010 per sq.ft, followed by a significant 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, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1316%. There are no revisions for this street in the years not listed above.

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 value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value for Elim Nagar (Manthope 1st Street).

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

Stamp duty and registration fee for property in Elim Nagar (Manthope 1st 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 be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees 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.

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

Which Sub Registrar Office covers Elim Nagar (Manthope 1st Street)?

The Sub Registrar Office that covers Elim Nagar (Manthope 1st 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungudi. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on this value. Buyers and sellers should be aware of the current guideline value to ensure accurate financial planning during property transactions.

When a property is sold, the guideline value serves as a benchmark for determining the minimum value on which stamp duty is calculated. This ensures that the transaction is recorded accurately in the official registry, reflecting the true value of the property as per the latest guidelines.

Frequently asked questions

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

The current guideline value of Elim Nagar (Manthope 1st 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 changed from Rs 233 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1316% across the years.

What are the stamp duty and registration fees for property in Elim Nagar (Manthope 1st Street)?

For a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000 for these fees.

Which Sub Registrar Office covers Elim Nagar (Manthope 1st Street)?

The Neelankarai Sub Registrar Office covers Elim Nagar (Manthope 1st Street), located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value when buying property?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the property is registered at an accurate value, reflecting the current market conditions as per the latest guidelines.