Guideline Value for Elumalai Salai

Elumalai Salai guideline value

The current guideline value of Elumalai Salai in Nanmangalam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Elumalai Salai has changed

The guideline value for Elumalai Salai has seen several revisions over the years. Starting from Rs 110 per sq.ft in 2002, it increased to Rs 202 per sq.ft in 2003. The value then rose significantly to Rs 300 per sq.ft in 2007, followed by a substantial jump to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017 before climbing back to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 2,750 per sq.ft.

In terms of changes, the guideline value increased by 84% from 2002 to 2003, followed by a 49% rise from 2003 to 2007. There was a remarkable increase of 733% from 2007 to 2012. After a decrease of 33% from 2012 to 2017, the value saw a significant rise of 49% from 2017 to 2023. The latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 2400%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft as per the 2024 revision. The median guideline value is Rs 2,750 per sq.ft, placing Elumalai Salai's 2024 figure at this median level.

• Elumalai Salai 1 To 7 Streets: Rs 2,750 per sq.ft (2024)
• Elango Street: Rs 1,960 per sq.ft (2024)
• Durga Nagar 1 To 4 Street: Rs 1,980 per sq.ft (2024)
• Durga Nagar: Rs 1,980 per sq.ft (2024)
• Friends Avenue: Rs 1,980 per sq.ft (2024)
• Friends Avenue Annex: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, charged at 7%, would be Rs 1,92,500, and the registration fee, charged at 2%, would be Rs 55,000. Together, these fees total Rs 2,47,500. 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 Salai?

The Elumalai Salai area falls under the Pallavaram Sub Registrar Office located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction adheres to the legal requirements set by the government. Buyers and sellers should be aware of the current guideline value to ensure compliance during the registration process.

Frequently asked questions

What is the current guideline value of Elumalai Salai?

The current guideline value of Elumalai Salai is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 110 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 2400% over this period.

What are the stamp duty rates applicable in Elumalai Salai?

The stamp duty rate applicable in Elumalai Salai is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Elumalai Salai is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How do I calculate registration fees for property in Elumalai Salai?

The registration fee is calculated at 2% of the guideline value. For accurate calculations, you can use the stamp duty and registration fee calculator.