Guideline Value for ELIM NAGAR PARK NORTH STREET

Elim Nagar Park North Street guideline value

The current guideline value of Elim Nagar Park North 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 is classified as Residential Class II Type - II.

How the guideline value of Elim Nagar Park North Street has changed

The guideline value for Elim Nagar Park North Street has seen significant changes over the years. In the 2002 revision, the 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, reaching Rs 1,452 per sq.ft in 2007, which was a 246% increase from the previous year. The 2012 revision saw a decrease to Rs 3,000 per sq.ft, a drop of 33% from Rs 2,010 per sq.ft in 2017.

In 2023, the guideline value was Rs 3,000 per sq.ft, which then increased by 10% to Rs 3,300 per sq.ft in the 2024 revision. 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. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Elim Nagar Park North Street.

• Elim Nagar Park East Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar Park South Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar Park West Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar (Manthope 3rd Cross Street): Rs 3,300 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Elim Nagar Park North 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, 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.

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

Which Sub Registrar Office covers Elim Nagar Park North Street?

The Sub Registrar Office that covers Elim Nagar Park North 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 property registration in Perungudi. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Elim Nagar Park North Street?

The current guideline value of Elim Nagar Park North 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, representing an overall increase of 1316% over the years.

What is the median guideline value in Perungudi?

The median guideline value in Perungudi is Rs 3,300 per sq.ft, which is the same as the guideline value for Elim Nagar Park North Street.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Elim Nagar Park North Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Elim Nagar Park North Street?

The Neelankarai Sub Registrar Office, which covers Elim Nagar Park North Street, is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.