Guideline Value for Elims Nagar

Elims Nagar guideline value

The current guideline value of Elims Nagar, located in Mevaloorkuppam B village, is Rs 400 per sq.ft as per the 2024 revision. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification. The street is registered under the Sriperumpudur SRO.

How the guideline value of Elims Nagar has changed

The guideline value for Elims Nagar has undergone several revisions over the years. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 800 per sq.ft, which was then reduced by 50% to Rs 400 per sq.ft in the 2024 revision.

This significant change reflects a downward adjustment in the guideline value, moving from Rs 800 per sq.ft in 2023 to Rs 400 per sq.ft in 2024. The current value aligns with the median guideline value for Mevaloorkuppam B, which is also Rs 400 per sq.ft.

Guideline values in Mevaloorkuppam B

In Mevaloorkuppam B, there are 84 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 6,200 per sq.ft. Elims Nagar's 2024 figure matches the median value of Rs 400 per sq.ft. Below are the guideline values for other streets in Mevaloorkuppam B:

• Eden Garden: Rs 500 per sq.ft (2024)
• Dr.Kalaignar Street: Rs 300 per sq.ft (2024)
• Dr.Ambedhkar Street: Rs 100 per sq.ft (2024)
• Gandhi Street: Rs 100 per sq.ft (2024)
• Gangaiyamman Koil Street: Rs 100 per sq.ft (2024)
• Cosmo city (south): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Elims Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. 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 Elims Nagar?

The Sub Registrar Office that covers Elims Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mevaloorkuppam B. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair value.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Elims Nagar?

The current guideline value of Elims Nagar is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Elims Nagar has changed from Rs 800 per sq.ft in 2023 to Rs 400 per sq.ft in 2024, reflecting a 50% reduction. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Elims Nagar?

Elims Nagar is classified as Residential Class II Type - I, which indicates its suitability for residential development.

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

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000. These fees are based on the guideline value.

Where is the Sub Registrar Office for Elims Nagar located?

The Sub Registrar Office for Elims Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, in the Chengalpattu registration zone.