Guideline Value for Elisabeth Nagar

Elisabeth Nagar guideline value

The current guideline value of Elisabeth Nagar, located in Puthagaram village under the Ambattur SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Elisabeth Nagar has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, representing a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, an increase of 7% from the previous year.

There are no figures available for the years 2002, 2003, and 2007 for this street in the register. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 7%.

Guideline values in Puthagaram

In Puthagaram, there are 140 streets under the Ambattur SRO, with guideline values ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value for these streets is Rs 1,900 per sq.ft, placing Elisabeth Nagar's 2024 figure below that median.

• Elizabath Nagar Extn: Rs 1,600 per sq.ft (2024)
• Elumalai Nagar: Rs 1,600 per sq.ft (2024)
• Elumalai Nagar Annex: Rs 1,300 per sq.ft (2024)
• Egamberaswrer Nagar: Rs 1,900 per sq.ft (2024)
• Duraisamy Nagar: Rs 1,876 per sq.ft (2024)
• Ganapathi Nagar: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Elisabeth Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that stamp 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 Elisabeth Nagar?

The Sub Registrar Office covering Elisabeth Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puthagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher value between the guideline value and the sale price. 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 Elisabeth Nagar?

The current guideline value of Elisabeth Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Elisabeth Nagar?

Elisabeth Nagar is classified as Residential Class II Type - I.

Where can I find the registration office for Elisabeth Nagar?

The registration office for Elisabeth Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for property transactions in Elisabeth Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,00,000 would incur a stamp duty of Rs 1,12,000 at 7%.