Guideline Value for Elumalai Nagar

Elumalai Nagar guideline value

The current guideline value of Elumalai Nagar is Rs 770 per sq.ft, effective from 1 July 2024. This area is located in Manimangalam A village under the Padappai SRO and is classified as Residential Class II Type - I.

How the guideline value of Elumalai Nagar has changed

The guideline value for Elumalai Nagar has undergone several revisions over the years. In the 2017 revision, the value was Rs 469 per sq.ft. This increased significantly to Rs 700 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 sets the guideline value at Rs 770 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for this street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value of Elumalai Nagar is below this median.

• F.M City: Rs 550 per sq.ft (2024)
• Gajalakshmi Nagar: Rs 1,430 per sq.ft (2024)
• Gajalakshmi Nagar Annex: Rs 1,430 per sq.ft (2024)
• Gajalakshmi Nagar Annex - II: Rs 1,430 per sq.ft (2024)
• Gajalakshmi Nagar Part: Rs 1,430 per sq.ft (2024)
• Ganesh Nagar: Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Elumalai Nagar?

The Sub Registrar Office that covers Elumalai Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an important factor during the registration of property transactions in Manimangalam A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and transparently. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies 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 770 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2017 to 2024?

From the 2017 revision to the 2024 revision, the guideline value increased by 64%, going from Rs 469 per sq.ft to Rs 770 per sq.ft.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Elumalai Nagar?

The Padappai Sub Registrar Office covers Elumalai Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Elumalai Nagar?

Elumalai Nagar is classified as Residential Class II Type - I, which indicates its designation for residential purposes within the area.