Guideline Value for Elumalai 2nd Lane (Thiruvallur Nagar)

Elumalai 2nd Lane (Thiruvallur Nagar) guideline value

The current guideline value for Elumalai 2nd Lane (Thiruvallur Nagar) is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - II.

How the guideline value of Elumalai 2nd Lane (Thiruvallur Nagar) has changed

The guideline value for Elumalai 2nd Lane has undergone several revisions over the years. Starting from Rs 230 per sq.ft in 2002, it increased to Rs 260 per sq.ft in 2003, marking a 13% rise. In 2007, the value further escalated to Rs 395 per sq.ft, reflecting a 52% increase. The 2017 revision saw a significant jump to Rs 1,507 per sq.ft, a 282% increase from the previous value. However, there is no figure available for the 2012 revision for this street. The 2023 revision set the guideline value at Rs 2,250 per sq.ft, which was a 49% increase from the 2017 figure. The most recent revision in 2024 raised it to Rs 2,475 per sq.ft, representing a 10% increase from the previous year.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in Pammal is Rs 2,090 per sq.ft, which means that the guideline value for Elumalai 2nd Lane is above this median.

• Elumalai Cross Street, Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Ellango Street (Muthamazhi Nagar): Rs 2,475 per sq.ft (2024)
• Ellango Street (Hindustan Lever Colony): Rs 2,750 per sq.ft (2024)
• Ellango Street (Anna Nagar): Rs 2,750 per sq.ft (2024)
• Elumalai Street, Moovendhar Nagar: Rs 1,980 per sq.ft (2024)
• Elumalai Street (Thiruneermalai Salai): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai 2nd Lane (Thiruvallur Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value would be Rs 24,75,000. The stamp duty at 7% would amount to Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total to Rs 2,22,750. Please note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Elumalai 2nd Lane (Thiruvallur Nagar)?

The Sub Registrar Office that covers Elumalai 2nd Lane (Thiruvallur Nagar) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value influences the amount of stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Elumalai 2nd Lane (Thiruvallur Nagar)?

The current guideline value of Elumalai 2nd Lane (Thiruvallur Nagar) is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 230 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, marking an overall increase of 976% over the years.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which indicates that the guideline value for Elumalai 2nd Lane is above this median.

What are the stamp duty rates for property in Elumalai 2nd Lane?

The stamp duty for property in Elumalai 2nd Lane is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Elumalai 2nd Lane located?

The Sub Registrar Office for Elumalai 2nd Lane is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.