Guideline Value for ELUMALAI MAISTRY STREET

Elumalai Maistry Street guideline value

The current guideline value of Elumalai Maistry Street is Rs 2,100 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class IV Type - I.

How the guideline value of Elumalai Maistry Street has changed

The guideline value for Elumalai Maistry Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in the 2023 revision, and finally to the current rate of Rs 2,100 per sq.ft in the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 shows a slight increase of 5%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making Elumalai Maistry Street's 2024 figure below that median.

• Elumalai Nagar: Rs 3,520 per sq.ft (2024)
• Elumalai Street: Rs 3,520 per sq.ft (2024)
• Emanuvel Street: Rs 3,520 per sq.ft (2024)
• English Electricl Nagar: Rs 3,300 per sq.ft (2024)
• Erattai Malai Srinivasan Street: Rs 2,750 per sq.ft (2024)
• Erikarai Ora Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai Maistry Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would amount to Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, making the total fees together Rs 1,89,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Elumalai Maistry Street?

The Sub Registrar Office covering Elumalai Maistry Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is an important factor when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory expenses for property transactions. This ensures that both parties are aware of the financial obligations involved in the sale or purchase of the property.

Frequently asked questions

What is the current guideline value of Elumalai Maistry Street?

The current guideline value of Elumalai Maistry Street is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,100 per sq.ft in 2024.

What is the land classification of Elumalai Maistry Street?

Elumalai Maistry Street is classified as Residential Class IV Type - I.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Elumalai Maistry Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value would be Rs 21,00,000, resulting in a stamp duty of Rs 1,47,000.