Guideline Value for Elumalai Nagar

Elumalai Nagar guideline value

The current guideline value of Elumalai Nagar, located in Kathirvedu village under the Ambattur SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - II.

How the guideline value of Elumalai Nagar has changed

The guideline value for Elumalai Nagar has undergone several revisions over the years. In 2002, the value was recorded at Rs 62 per sq.ft. It increased to Rs 80 per sq.ft in 2003, marking a 29% rise. The next significant jump occurred in 2007 when the value reached Rs 300 per sq.ft, reflecting a 275% increase. Following this, in 2012, the value was Rs 1,200 per sq.ft, which represented a substantial 300% increase from the previous revision.

From 2012 to 2017, the guideline value decreased to Rs 804 per sq.ft, showing a decline of 33%. However, the value rebounded to Rs 1,200 per sq.ft in 2023, and then it rose to Rs 1,300 per sq.ft in 2024, marking an 8% increase. Overall, from 2002 to 2024, the guideline value has increased by 1997%.

Guideline values in Kathirvedu

In Kathirvedu, there are 78 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 1,500 per sq.ft. The guideline value of Elumalai Nagar is below this median.

• Erattaimalai Srinivasan Street: Rs 1,300 per sq.ft (2024)
• Essaiya Street: Rs 1,100 per sq.ft (2024)
• Ganabathy Nagar (or) Golden Nagar: Rs 1,500 per sq.ft (2024)
• Gandhi Street: Rs 1,100 per sq.ft (2024)
• Co-Operative Nagar (Government Co-Op Nagar): Rs 1,900 per sq.ft (2024)
• Green View(Tamil Nadu Officiers Co-Operative Housing Society): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty, charged at 7%, would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. 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 Elumalai Nagar?

The Sub Registrar Office that covers Elumalai 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Kathirvedu. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Elumalai Nagar?

The current guideline value of Elumalai Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 62 per sq.ft in 2002 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 1997% over the years.

What is the classification of land in Elumalai Nagar?

Elumalai Nagar is classified as Residential Class III Type - II, which indicates its intended use for residential purposes.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Where can I find the Sub Registrar Office for Elumalai Nagar?

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