Guideline Value for Elumalai Nagar

Elumalai Nagar guideline value

The current guideline value of Elumalai Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village under the Padappai Sub Registrar Office (SRO) and is classified as Residential Special 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 1,600 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, marking a 49% rise from the 2017 figure. The latest revision in 2024 has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 38%.

Guideline values in Mudichur

Mudichur comprises 135 streets under the Padappai SRO, with the 2024 guideline values ranging from Rs 880 to Rs 4,000 per sq.ft. The guideline value of Elumalai Nagar matches the median value of Rs 2,200 per sq.ft for the village.

• Ellaiamman Koil Street: Rs 1,210 per sq.ft (2024)
• Erikkarai Street: Rs 3,630 per sq.ft (2024)
• Eswaran Nagar: Rs 1,210 per sq.ft (2024)
• E.B.Colony: Rs 3,630 per sq.ft (2024)
• Durga Avenue: Rs 1,210 per sq.ft (2024)
• Duraisami Nagar: Rs 3,630 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 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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 Mudichur

The guideline value is a crucial factor during the registration of property transactions in Mudichur. It determines the base value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. Buyers and sellers should be aware of the current guideline value to make informed decisions 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 2,200 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 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of Elumalai Nagar?

Elumalai Nagar is classified as Residential Special Type - I, which indicates its suitability for residential development.

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

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

How is stamp duty calculated for properties in Elumalai Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value results in a total guideline value of Rs 22,00,000, leading to a stamp duty of Rs 1,54,000.