Guideline Value for ELIM NAGAR PARK SOUTH STREET

Elim Nagar Park South Street guideline value

The current guideline value of Elim Nagar Park South 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 South Street has changed

The guideline value for Elim Nagar Park South Street has seen significant changes over the years. In 2002, 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, reaching Rs 1,452 per sq.ft in 2007, which represented a substantial increase of 246%. By 2012, the value was Rs 3,000 per sq.ft, reflecting a remarkable 107% increase from the previous revision. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a decline of 33%.

In 2023, the guideline value was revised to Rs 3,000 per sq.ft, and then it increased to Rs 3,300 per sq.ft in 2024, which is a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1,316%.

Guideline values in Perungudi

In Perungudi village, 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 the same as the current guideline value for Elim Nagar Park South Street.

• Elim Nagar Park North Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar Park West Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar Park East 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 South 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. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Elim Nagar Park South Street?

The Elim Nagar Park South Street falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process for property transactions in Perungudi. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value serves as a benchmark, ensuring that the transaction is recorded at a value that reflects the current market conditions for that specific location. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

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

The current guideline value of Elim Nagar Park South 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 for Elim Nagar Park South Street has increased from Rs 233 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, showing a significant overall increase of 1,316%.

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

The stamp duty rate for property transactions in Elim Nagar Park South Street 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.

How can I calculate the registration fees for my property?

You can calculate the registration fees for your property by using the stamp duty and registration fee calculator available on our website.