Guideline Value for Elizabeth Thomas Nagar

Elizabeth Thomas Nagar guideline value

The current guideline value of Elizabeth Thomas Nagar in Jampuli village, under the Madhavaram SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Elizabeth Thomas Nagar has changed

Over the years, the guideline value of Elizabeth Thomas Nagar has seen several revisions. The 2012 revision set the value at Rs 1,600 per sq.ft, which was then reduced to Rs 1,072 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 1,600 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,700 per sq.ft, marking a 6% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Jampuli

In Jampuli, there are 118 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,450 per sq.ft, placing the guideline value of Elizabeth Thomas Nagar below this median.

• Empier Garden: Rs 1,700 per sq.ft (2024)
• De-Mondi Avenue: Rs 1,700 per sq.ft (2024)
• Corporation Road: Rs 1,700 per sq.ft (2024)
• Gopal Reddy Estate: Rs 1,700 per sq.ft (2024)
• Govindasamy Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• Govindasamy Nagar 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Elizabeth Thomas Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Elizabeth Thomas Nagar?

The Sub Registrar Office that covers Elizabeth Thomas Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Jampuli, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration office will use the guideline value to calculate applicable fees.

When registering a property, 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 Elizabeth Thomas Nagar?

The current guideline value of Elizabeth Thomas Nagar is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Elizabeth Thomas Nagar?

Elizabeth Thomas Nagar is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.