Guideline Value for ELUMALAI NAICKER STREET

Elumalai Naicker Street guideline value

The current guideline value of Elumalai Naicker Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village under the Manavalanagar SRO, classified as Commercial Class I Type - III.

How the guideline value of Elumalai Naicker Street has changed

Starting from the earliest revision, the guideline value for Elumalai Naicker Street was Rs 150 per sq.ft in 2007. This figure saw a significant increase to Rs 1,300 per sq.ft in 2012, marking a rise of 767%. However, from 2012 to 2017, the value decreased by 33% to Rs 871 per sq.ft. The subsequent revisions saw the value rise to Rs 1,300 per sq.ft in both 2023 and 2024, with no change from 2023 to 2024.

There are no figures available for the years 2002 and 2003 in the register for this street. The overall change from 2007 to 2024 is an increase of 767%.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, placing Elumalai Naicker Street's 2024 value above this median.

• Elumalai Street: Rs 600 per sq.ft (2024)
• Elango Steet: Rs 1,300 per sq.ft (2024)
• Elango Adigal Street: Rs 1,300 per sq.ft (2024)
• E.A.P.Sivaji Street: Rs 1,300 per sq.ft (2024)
• Durai Kannu Street: Rs 1,300 per sq.ft (2024)
• Dr.RAMADOSS STREET: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai Naicker Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. 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 further calculations.

Which Sub Registrar Office covers Elumalai Naicker Street?

The Sub Registrar Office that covers Elumalai Naicker Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is essential during the registration process of property transactions in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Elumalai Naicker Street?

The current guideline value of Elumalai Naicker Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a significant increase from Rs 150 per sq.ft in 2007 to Rs 1,300 per sq.ft in both 2012 and 2024. The overall change from 2007 to 2024 is an increase of 767%.

What are the stamp duty and registration fees for property here?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee Rs 26,000, totaling Rs 1,17,000. This is based on the guideline value of Rs 1,300 per sq.ft for a 1,000 sq.ft plot.

Where is the Sub Registrar Office for Elumalai Naicker Street?

The Sub Registrar Office for Elumalai Naicker Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

What is the land classification of Elumalai Naicker Street?

Elumalai Naicker Street is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.