Guideline Value for Elumalai Nagar

Elumalai Nagar guideline value

The current guideline value of Elumalai 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 Elumalai Nagar has changed

The guideline value for Elumalai Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,500 per sq.ft in the 2023 revision, and currently stands at Rs 1,600 per sq.ft as of the 2024 revision, marking a 7% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthagaram

Puthagaram village has 140 streets under the Ambattur SRO, with guideline values for 2024 ranging from Rs 1,200 to Rs 3,800 per sq.ft. The median guideline value in this area is Rs 1,900 per sq.ft, making Elumalai Nagar's current value below this median.

• Elumalai Nagar Annex: Rs 1,300 per sq.ft (2024)
• Elizabath Nagar Extn: Rs 1,600 per sq.ft (2024)
• Elisabeth Nagar: Rs 1,600 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 Elumalai 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, resulting in a total of Rs 1,44,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. 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 Puthagaram

The guideline value is a crucial factor in property transactions in Puthagaram, as it determines the minimum value at which properties can be registered. When buying or selling property, this value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is legally documented at a fair value.

It is important to be aware of the guideline value when engaging in property transactions, as it impacts the overall cost of buying or selling a property. Buyers and sellers should refer to the latest guideline values to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Elumalai Nagar?

The current guideline value of Elumalai 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 is now Rs 1,600 per sq.ft in 2024.

What is the land classification of Elumalai Nagar?

Elumalai Nagar is classified as Residential Class II Type - I, indicating its designation for residential use.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

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.