Guideline Value for Elumalai Nayakakar Street

Elumalai Nayakakar Street guideline value

The current guideline value of Elumalai Nayakakar Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Elumalai Nayakakar Street has changed

The guideline value for Elumalai Nayakakar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,005 per sq.ft. The value then increased significantly to Rs 1,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,600 per sq.ft in the 2024 revision, reflecting a 7% rise from the previous year.

From 2017 to 2023, the value increased by 49%, while the overall change from 2012 to 2024 shows a modest increase of 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that have a guideline value for 2024, ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing Elumalai Nayakakar Street's 2024 figure below that median.

• Elumalai Street: Rs 2,200 per sq.ft (2024)
• Elangovan Street: Rs 3,300 per sq.ft (2024)
• Erikkarai Street: Rs 2,900 per sq.ft (2024)
• Erikkarai Vinayagar Puram: Rs 1,600 per sq.ft (2024)
• Eista Sithi Vinayakar Koil Street: Rs 850 per sq.ft (2024)
• Eswaran Koil Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai Nayakakar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, making the total fees Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Elumalai Nayakakar Street?

The Sub Registrar Office that covers Elumalai Nayakakar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Selaiyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that all transactions are conducted transparently and fairly.

It is essential for buyers and sellers to be aware of the current guideline value to avoid discrepancies during the registration process. The guideline value serves as a benchmark for property transactions, helping to establish a clear understanding of the property's worth in the market.

Frequently asked questions

What is the current guideline value of Elumalai Nayakakar Street?

The current guideline value of Elumalai Nayakakar Street 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 back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Elumalai Nayakakar Street?

Elumalai Nayakakar Street is classified as Residential Class II Type - II.

What are the stamp duty and registration fees for a property here?

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 is the Sub Registrar Office located for this street?

The Sub Registrar Office for Elumalai Nayakakar Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.