Guideline Value for Elumalai Street (Thiruvallur Nagar)

Elumalai Street (Thiruvallur Nagar) guideline value

The current guideline value of Elumalai Street (Thiruvallur Nagar) is Rs 2,475 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO, classified as Residential Class I Type - II.

How the guideline value of Elumalai Street (Thiruvallur Nagar) has changed

The guideline value for Elumalai Street (Thiruvallur Nagar) has seen significant changes over the years. In 2002, the value was Rs 230 per sq.ft, which increased to Rs 260 per sq.ft in 2003, marking a 13% rise. The value then rose to Rs 395 per sq.ft in 2007, reflecting a 52% increase. By 2017, the guideline value reached Rs 1,507 per sq.ft, a substantial 282% increase from 2007. The 2023 revision set the value at Rs 2,250 per sq.ft, a 49% increase from 2017.

The most recent revision in 2024 has established the guideline value at Rs 2,475 per sq.ft, which is 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.

Guideline values in Pammal

In Pammal village, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value is Rs 2,090 per sq.ft, placing Elumalai Street (Thiruvallur Nagar) above this median.

• Elumalai Street (Thiruneermalai Salai): Rs 1,980 per sq.ft (2024)
• Elumalai Street, Moovendhar Nagar: Rs 1,980 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 (Thiruvallur Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,475 per sq.ft, the total guideline value amounts to Rs 24,75,000. The stamp duty at 7% would be Rs 1,73,250, and the registration fee at 2% would be Rs 49,500, bringing the total to Rs 2,22,750. It is essential to note that 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 details.

Which Sub Registrar Office covers Elumalai Street (Thiruvallur Nagar)?

The Sub Registrar Office that covers Elumalai Street (Thiruvallur Nagar) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Pammal. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Elumalai Street (Thiruvallur Nagar)?

The current guideline value of Elumalai Street (Thiruvallur Nagar) is Rs 2,475 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 230 per sq.ft in 2002 to Rs 2,475 per sq.ft in 2024, marking an overall increase of 976% over the years.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which is lower than the current value of Elumalai Street (Thiruvallur Nagar).

What are the stamp duty and registration fees for properties on this street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, these fees amount to Rs 2,22,750 combined.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Elumalai Street (Thiruvallur Nagar) is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075. You can find more information by visiting the relevant link.