Guideline Value for Elumalai Street (Thiruneermalai Salai)

Elumalai Street (Thiruneermalai Salai) guideline value

The current guideline value of Elumalai Street (Thiruneermalai Salai) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Elumalai Street (Thiruneermalai Salai) has changed

The guideline value of Elumalai Street has undergone several revisions since 2002. In 2002, the value was Rs 227 per sq.ft, which increased to Rs 257 per sq.ft in 2003, marking a 13% rise. The value continued to grow significantly, reaching Rs 360 per sq.ft in 2007, a 40% increase from the previous revision. By 2017, the guideline value rose to Rs 1,206 per sq.ft, reflecting a substantial 235% increase over the 2007 figure. The 2023 revision set the value at Rs 1,800 per sq.ft, which was a 49% increase from 2017. The current 2024 revision sees the guideline value at Rs 1,980 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there is no figure available for the 2012 revision for this street. Overall, from 2002 to 2024, the guideline value has increased by 772%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values ranging from Rs 880 to Rs 3,300 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,090 per sq.ft, placing Elumalai Street (Thiruneermalai Salai) below this median.

• Elumalai Street, Moovendhar Nagar: Rs 1,980 per sq.ft (2024)
• Elumalai Street (Thiruvallur Nagar): Rs 2,475 per sq.ft (2024)
• Elumalai Cross Street, Thiruvalluvar Nagar: Rs 2,475 per sq.ft (2024)
• Elumalai 2nd Lane (Thiruvallur Nagar): Rs 2,475 per sq.ft (2024)
• Ennaiyeram Street (Samnudeswari Nagar): Rs 1,980 per sq.ft (2024)
• Ellango Street (Muthamazhi Nagar): Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Elumalai Street (Thiruneermalai Salai)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees together to Rs 1,78,200. 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 Street (Thiruneermalai Salai)?

The Sub Registrar Office that covers Elumalai Street (Thiruneermalai Salai) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pammal. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on an official value rather than the sale price alone.

When a property is registered, the guideline value is assessed to determine the applicable fees. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Elumalai Street (Thiruneermalai Salai)?

The current guideline value of Elumalai Street (Thiruneermalai Salai) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 227 per sq.ft in 2002 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 772% over this period.

What is the stamp duty rate for properties in Elumalai Street?

The stamp duty rate for properties in Elumalai Street is 7%, which is applied to the higher of the guideline value or the sale price during registration.

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

The Sub Registrar Office for Elumalai Street (Thiruneermalai Salai) is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

What is the median guideline value in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, which is higher than the current value of Elumalai Street (Thiruneermalai Salai) at Rs 1,980 per sq.ft.