Guideline Value for ELITE HOMES

Elite Homes guideline value

The current guideline value of Elite Homes in Kunnam village is Rs 350 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Special Type - I.

How the guideline value of Elite Homes has changed

The guideline value for Elite Homes has undergone several revisions over the years. The 2017 revision set the value at Rs 234 per sq.ft. This remained unchanged until the 2023 revision, which also recorded Rs 350 per sq.ft. The 2024 revision maintained this figure, showing a 0% change from the previous year. Overall, from 2017 to 2024, the guideline value increased by 50%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The significant change from 2017 to 2023 was a 50% increase, bringing the value to Rs 350 per sq.ft, which has remained consistent through to the latest revision in 2024.

Guideline values in Kunnam

Kunnam village has 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 660 per sq.ft, with a median value of Rs 200 per sq.ft. The guideline value for Elite Homes is above this median, reflecting a higher valuation within the village.

• Church Street: Rs 181 per sq.ft (2024)
• Kizhandai Street: Rs 200 per sq.ft (2024)
• Ambal Nagar: Rs 300 per sq.ft (2024)
• Lakshmi Nagar: Rs 200 per sq.ft (2024)
• Lakshmi nagar Extension: Rs 200 per sq.ft (2024)
• Manikandan Nagar: Rs 181 per sq.ft (2024)

Stamp duty and registration fee for property in Elite Homes

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, making the total charges Rs 31,500. It is important to 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 detailed calculations based on your specific property transaction.

Which Sub Registrar Office covers Elite Homes?

The Sub Registrar Office that covers Elite Homes is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Kunnam, as it determines the minimum value at which properties can be registered. Buyers and sellers should be aware that the guideline value will influence the stamp duty and registration fees applicable during the transaction.

When purchasing property, it is essential to consider the guideline value as it serves as a benchmark for assessing the property's worth. This value impacts the overall costs associated with registration, ensuring that all parties are aware of the financial obligations involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Elite Homes?

The current guideline value of Elite Homes is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 234 per sq.ft in 2017 to Rs 350 per sq.ft in both the 2023 and 2024 revisions. This marks a 50% increase overall from 2017 to 2024.

What is the land classification for Elite Homes?

Elite Homes is classified as Residential Special Type - I under the Sunguvarchattram SRO.

What are the other streets in Kunnam with their guideline values?

Other streets in Kunnam have varying guideline values, with rates ranging from Rs 181 to Rs 660 per sq.ft. Notable streets include Church Street at Rs 181, Kizhandai Street at Rs 200, and Ambal Nagar at Rs 300 per sq.ft.

Where can I find the Sub Registrar Office for Elite Homes?

The Sub Registrar Office for Elite Homes is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find more information online.