Guideline Value for Elumalai Nagar

Elumalai Nagar guideline value

The current guideline value of Elumalai Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village under the Sembiam 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 2002, the value was Rs 259 per sq.ft, which increased to Rs 286 per sq.ft in 2003. This marked a change of +10%. The value saw a significant rise in 2007, reaching Rs 900 per sq.ft, reflecting a change of +215%. The next revision in 2012 kept the value steady at Rs 2,500 per sq.ft, showing no change from the previous figure. In 2023, the guideline value was again Rs 2,500 per sq.ft, with no change noted from 2012. However, in the latest revision for 2024, the value increased to Rs 2,700 per sq.ft, representing a change of +8% from 2023.

It is important to note that there is no figure available for the year 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +942%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a guideline value for 2024, ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, making the Elumalai Nagar guideline value below this median.

• Ellaiamman Koil Street: Rs 2,700 per sq.ft (2024)
• Erikkari Street: Rs 2,700 per sq.ft (2024)
• East Street Lane: Rs 2,200 per sq.ft (2024)
• East Street: Rs 2,700 per sq.ft (2024)
• East Railway Gate Cross Lane: Rs 2,200 per sq.ft (2024)
• East Railway Gate: Rs 2,700 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, leading to a total of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our 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 Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Elumalai Nagar?

The current guideline value of Elumalai Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 259 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of +942% over the years.

What is the median guideline value in Kolathur?

The median guideline value in Kolathur is Rs 3,300 per sq.ft, which is higher than the current value of Elumalai Nagar.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total costs can be significant.