Guideline Value for Elumalai Nayagar Street

Elumalai Nayagar Street guideline value

The current guideline value of Elumalai Nayagar Street in Karasangal village, under the Sriperumpudur SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class II Type - I land classification.

How the guideline value of Elumalai Nayagar Street has changed

Over the years, the guideline value for Elumalai Nayagar Street has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 167 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased by 50% back to Rs 250 per sq.ft. The 2024 revision maintains this value, showing no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the revisions available are from 2012, 2017, 2023, and 2024, with the most recent being Rs 250 per sq.ft.

Guideline values in Karasangal

In Karasangal, there are 59 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 3,550 per sq.ft. The median guideline value for these streets is Rs 402 per sq.ft, placing Elumalai Nayagar Street's 2024 figure below that median.

• Dr. Ramdoss Street: Rs 250 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 100 per sq.ft (2024)
• Devaraj Kulakarai Street: Rs 250 per sq.ft (2024)
• City Lando Avenue: Rs 800 per sq.ft (2024)
• GSN Nagar: Rs 600 per sq.ft (2024)
• Brindhavan Garden: Rs 1,875 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai Nayagar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, while the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Elumalai Nayagar Street?

The Sub Registrar Office covering Elumalai Nayagar Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Karasangal. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

It is important for buyers and sellers to be aware of the current guideline value, as it can affect the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Elumalai Nayagar Street?

The current guideline value of Elumalai Nayagar Street is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has varied over the years, with the 2012 revision at Rs 250 per sq.ft, dropping to Rs 167 per sq.ft in 2017, then returning to Rs 250 per sq.ft in 2023 and remaining the same in 2024.

What is the median guideline value of streets in Karasangal?

The median guideline value for the 59 streets in Karasangal is Rs 402 per sq.ft, which is higher than the current value of Elumalai Nayagar Street.

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

For a 1,000 sq.ft plot at the guideline value of Rs 250 per sq.ft, the total guideline value is Rs 2,50,000. The stamp duty would be Rs 17,500, and the registration fee would be Rs 5,000, totaling Rs 22,500.

Which office handles registrations for Elumalai Nayagar Street?

The Sriperumpudur Sub Registrar Office handles registrations for Elumalai Nayagar Street, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.