Guideline Value for ELUMALAI NAGAR

Elumalai Nagar guideline value

The current guideline value of Elumalai Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Vengal village, under the Arani_Tiruvallur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Elumalai Nagar has changed

In the 2017 revision, the guideline value was set at Rs 100 per sq.ft. This figure increased by 50% to Rs 150 per sq.ft in the 2023 revision. The 2024 revision maintained the same guideline value of Rs 150 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 50%. The consistency in the guideline value from 2023 to 2024 indicates stability in the pricing for Elumalai Nagar.

Guideline values in Vengal

In Vengal village, there are 9 streets under the Arani_Tiruvallur SRO that carry a 2024 guideline value, ranging from Rs 130 to Rs 281 per sq.ft. The median guideline value for these streets is Rs 171 per sq.ft, placing Elumalai Nagar's 2024 figure below the median.

• James Garden: Rs 241 per sq.ft (2024)
• Annai Gomathi Nagar: Rs 200 per sq.ft (2024)
• Lakshmi Nagar Phase-1: Rs 130 per sq.ft (2024)
• Nasic Nagar Phase-1: Rs 130 per sq.ft (2024)
• R.R.B. Nagar: Rs 171 per sq.ft (2024)
• Sri Nagathamman Nagar: Rs 281 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, making a total of Rs 13,500. It is important to 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 Elumalai Nagar?

The Sub Registrar Office covering Elumalai Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Vengal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it ensures compliance with legal requirements during the registration process. This value helps in establishing a fair transaction price and aids in the smooth transfer of property ownership.

Frequently asked questions

What is the current guideline value of Elumalai Nagar?

The current guideline value of Elumalai Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023 and remained the same in 2024. There are no figures available for the years 2002, 2003, 2007, and 2012.

What is the median guideline value of streets in Vengal?

The median guideline value for the streets in Vengal is Rs 171 per sq.ft, with Elumalai Nagar's value being below this median.

What are the stamp duty and registration fees for property in Elumalai Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 13,500.

Where is the Sub Registrar Office for Elumalai Nagar located?

The Sub Registrar Office for Elumalai Nagar is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.