Guideline Value for ELIM NAGAR (MANTHOPE 3RD CROSS STREET)

Elim Nagar (Manthope 3rd Cross Street) guideline value

The current guideline value of Elim Nagar (Manthope 3rd 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, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Elim Nagar (Manthope 3rd Cross Street) has changed

Over the years, the guideline value of Elim Nagar (Manthope 3rd Cross Street) has seen significant changes. The earliest recorded figure is from 2002, where the guideline value was Rs 233 per sq.ft. This value increased to Rs 420 per sq.ft in 2003, marking an increase of 80%. Following this, the value rose dramatically to Rs 1,452 per sq.ft in 2007, which is a 246% increase. The value continued to rise, reaching Rs 3,000 per sq.ft in 2012, representing a 107% increase. However, it then saw a decrease to Rs 2,010 per sq.ft in 2017, which is a decline of 33%. The guideline value then increased to Rs 3,000 per sq.ft in 2023, followed by the current value of Rs 3,300 per sq.ft in 2024, marking a 10% increase.

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

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, with a median value of Rs 3,300 per sq.ft. The guideline value of Elim Nagar (Manthope 3rd Cross Street) is equal to this median.

• Elim Nagar (Manthope 2nd Street): Rs 3,300 per sq.ft (2024)
• Elim Nagar (Manthope 2nd Cross Street): Rs 3,300 per sq.ft (2024)
• Elim Nagar (Manthope 1st Street): Rs 3,300 per sq.ft (2024)
• Elim Nagar Park East Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar (Manthope 1st Cross Street): Rs 3,300 per sq.ft (2024)
• Elim Nagar Park North Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Elim Nagar (Manthope 3rd 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, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please note that the 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 Elim Nagar (Manthope 3rd Cross Street)?

The Sub Registrar Office that covers Elim Nagar (Manthope 3rd 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 in property transactions in Perungudi, as it determines the amount of stamp duty and registration fees payable when buying or selling a property. This value is set by the Registration Department and is periodically revised based on various factors.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Elim Nagar (Manthope 3rd Cross Street)?

The current guideline value of Elim Nagar (Manthope 3rd 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 land classification for Elim Nagar (Manthope 3rd Cross Street)?

Elim Nagar (Manthope 3rd Cross Street) falls under the Residential Class II Type - II land classification.

Where can I find the Sub Registrar Office for Elim Nagar (Manthope 3rd Cross Street)?

The Neelankarai Sub Registrar Office covers Elim Nagar (Manthope 3rd Cross Street) and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Elim Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.