Guideline Value for ELIM NAGAR (MANTHOPE 2ND CROSS STREET)

Elim Nagar (Manthope 2nd Cross Street) guideline value

The current guideline value of Elim Nagar (Manthope 2nd Cross Street) is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village under the Neelankarai SRO, classified as Residential Class II Type - II.

How the guideline value of Elim Nagar (Manthope 2nd Cross Street) has changed

The guideline value for Elim Nagar (Manthope 2nd Cross Street) has seen several revisions over the years. In 2002, the value was Rs 233 per sq.ft, which 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, a jump of 246%. By 2012, the value was Rs 3,000 per sq.ft, reflecting a 107% increase from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, showing a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 3,300 per sq.ft, representing a 10% increase from the previous year.

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

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values 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 2024 guideline value for Elim Nagar (Manthope 2nd Cross Street).

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

Stamp duty and registration fee for property in Elim Nagar (Manthope 2nd 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 amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration fee would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Elim Nagar (Manthope 2nd Cross Street)?

The Sub Registrar Office that covers Elim Nagar (Manthope 2nd 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 information.

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

The guideline value is a crucial factor during 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, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers must consider this value to avoid discrepancies during the registration process, as it directly impacts the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of Elim Nagar (Manthope 2nd Cross Street)?

The current guideline value of Elim Nagar (Manthope 2nd 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 changed significantly 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 is the median guideline value for streets in Perungudi?

The median guideline value for streets in Perungudi is Rs 3,300 per sq.ft, which is the same as the current value for Elim Nagar (Manthope 2nd Cross Street).

What are the stamp duty and registration fees for property in Elim Nagar?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 2,31,000 and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Elim Nagar (Manthope 2nd Cross Street)?

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