Guideline Value for ELUMALAI SALAI 1 TO 7 STREETS

Elumalai Salai 1 To 7 Streets guideline value

The current guideline value for Elumalai Salai 1 To 7 Streets in Nanmangalam village, under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Elumalai Salai 1 To 7 Streets has changed

Over the years, the guideline value for Elumalai Salai 1 To 7 Streets has seen several revisions. The most recent revision in 2024 set the value at Rs 2,750 per sq.ft, an increase from Rs 2,500 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 1,675 per sq.ft, which means there was a significant increase of 49% by 2023. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous value in 2017.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the 2012 figure of Rs 2,500 per sq.ft to the current 2024 figure of Rs 2,750 per sq.ft, there has been an increase of 10% over the twelve-year period.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO that carry a guideline value for 2024, ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value among these streets is Rs 2,750 per sq.ft, which aligns with the guideline value for Elumalai Salai 1 To 7 Streets.

• Elumalai Salai: Rs 2,750 per sq.ft (2024)
• Elango Street: Rs 1,960 per sq.ft (2024)
• Durga Nagar 1 To 4 Street: Rs 1,980 per sq.ft (2024)
• Durga Nagar: Rs 1,980 per sq.ft (2024)
• Friends Avenue: Rs 1,980 per sq.ft (2024)
• Friends Avenue Annex: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai Salai 1 To 7 Streets

For a property of 1,000 sq.ft at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty, calculated at 7%, amounts to Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Thus, the total cost for stamp duty and registration fee would be Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Elumalai Salai 1 To 7 Streets?

The Sub Registrar Office that covers Elumalai Salai 1 To 7 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property transactions in Nanmangalam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of the transaction. This value is regularly updated to reflect changes in the real estate market and is an important factor in property registration.

Frequently asked questions

What is the current guideline value for Elumalai Salai 1 To 7 Streets?

The current guideline value for Elumalai Salai 1 To 7 Streets is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2012?

Since 2012, the guideline value has increased by 10%, from Rs 2,500 per sq.ft in 2012 to Rs 2,750 per sq.ft in 2024.

What was the guideline value in 2023?

The guideline value for Elumalai Salai 1 To 7 Streets in 2023 was Rs 2,500 per sq.ft.

What is the land classification for Elumalai Salai 1 To 7 Streets?

The land classification for Elumalai Salai 1 To 7 Streets is Residential Class I Type - I.

Where can I find the registration office for this area?

The registration office for Elumalai Salai 1 To 7 Streets is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.