Guideline Value for ELIM NAGAR PARK WEST STREET

Elim Nagar Park West Street guideline value

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

The guideline value for Elim Nagar Park West Street has seen several revisions over the years. In 2002, the guideline value was Rs 233 per sq.ft, which increased to Rs 420 per sq.ft in 2003. The value continued to rise significantly, reaching Rs 1,452 per sq.ft in 2007, and then it jumped to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. The most recent revisions show an increase to Rs 3,000 per sq.ft in 2023, followed by a further increase to Rs 3,300 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,316%. The register has no figure for this street in the years not mentioned, and thus, those years are not applicable to this street's guideline value history.

Guideline values in Perungudi

In Perungudi, there are a total of 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 guideline value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Elim Nagar Park West Street.

• Elim Nagar Park South Street: Rs 3,300 per sq.ft (2024)
• Elim Nagar Park North 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 West 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, making the total cost for these fees Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Elim Nagar Park West Street?

The Sub Registrar Office that covers Elim Nagar Park West 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 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 transaction is recorded accurately in accordance with government regulations.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Elim Nagar Park West Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 233 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 1,316% over the years.

What is the land classification for Elim Nagar Park West Street?

Elim Nagar Park West Street is classified as Residential Class II Type - II, indicating its suitability for residential development.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2% of the same. For example, a property valued at Rs 33,00,000 would incur a total fee of Rs 2,97,000.