Guideline Value for Elavarasi Nagar

Elavarasi Nagar guideline value

The current guideline value of Elavarasi Nagar, located in Kattupakkam village under the Kunrathur SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Elavarasi Nagar has changed

The guideline value for Elavarasi Nagar has seen significant changes over the years. In 2003, the guideline value was Rs 81 per sq.ft, which increased to Rs 250 per sq.ft in 2007. Following this, the value surged to Rs 1,800 per sq.ft in 2012, reflecting a substantial increase of 620%. However, it then dropped to Rs 1,206 per sq.ft in 2017, marking a decrease of 33%. The value further rose to Rs 1,800 per sq.ft in 2023, before reaching the current figure of Rs 1,980 per sq.ft in 2024, which is a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 2,344%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Kattupakkam

Kattupakkam village has a range of guideline values across its 75 streets under the Kunrathur SRO, with the 2024 figures varying from Rs 1,980 to Rs 4,290 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Elavarasi Nagar's current value below that median.

• Ettiamman Nagar: Rs 1,980 per sq.ft (2024)
• D.S.M. Nagar: Rs 1,980 per sq.ft (2024)
• D.R.R. Nagar: Rs 1,980 per sq.ft (2024)
• Ganapathy Nagar: Rs 3,520 per sq.ft (2024)
• C.T.A. Nagar & Phase I: Rs 1,980 per sq.ft (2024)
• Chokkammal Nagar: Rs 2,090 per sq.ft (2024)

Stamp duty and registration fee for property in Elavarasi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Elavarasi Nagar?

The Sub Registrar Office that covers Elavarasi Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role during property registration in Kattupakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. This ensures that the transaction is recorded accurately and legally.

When a buyer or seller engages in a property transaction, the guideline value is referenced to calculate the applicable fees. It is essential to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Elavarasi Nagar?

The current guideline value of Elavarasi Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 81 per sq.ft in 2003 to Rs 1,980 per sq.ft in 2024, which represents an overall increase of 2,344% from 2003 to 2024.

What is the median guideline value in Kattupakkam?

The median guideline value in Kattupakkam for the year 2024 is Rs 2,090 per sq.ft, which is higher than the current value of Elavarasi Nagar.

What are the stamp duty rates for properties in Elavarasi Nagar?

The stamp duty for properties in Elavarasi Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it covers Elavarasi Nagar.