Guideline Value for Eligancia

Eligancia guideline value

The current guideline value of Eligancia in Panapakkam village, under the Padappai SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Eligancia has changed

The guideline value for Eligancia has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 700 per sq.ft, and the most recent 2024 revision raised it further to Rs 770 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Panapakkam

In Panapakkam, there are 28 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 990 per sq.ft, with the median value at Rs 770 per sq.ft. The guideline value for Eligancia is equal to this median.

• Easwari Nagar: Rs 770 per sq.ft (2024)
• Ezhil Nagar: Rs 550 per sq.ft (2024)
• Ganapthipuram: Rs 990 per sq.ft (2024)
• Dharanirajapuram: Rs 770 per sq.ft (2024)
• Blue Bird City Phase II: Rs 770 per sq.ft (2024)
• Balaji Nagar Part I: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Eligancia

For a 1,000 sq.ft plot at the current rate of Rs 770 per sq.ft, the guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Eligancia?

The Eligancia area is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is crucial during property transactions as it determines the amount of stamp duty and registration fees payable. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Eligancia?

The current guideline value of Eligancia is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What are the other streets in Panapakkam and their guideline values?

Other streets in Panapakkam include Easwari Nagar, Ezhil Nagar, Ganapthipuram, Dharanirajapuram, Blue Bird City Phase II, and Balaji Nagar Part I, with values ranging from Rs 550 to Rs 990 per sq.ft.

What is the stamp duty rate in Tamil Nadu?

The stamp duty rate in Tamil Nadu is typically 7% for property transactions, calculated on the higher of the guideline value or the sale price.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.